Asked by Xandrei Lugay on Jun 19, 2024
Verified
Which of the following summarizes the transactions involving the international exchange of goods and services,transfers,military transactions,and other miscellaneous transactions?
A) Capital account
B) Balance of trade
C) Statistical discrepancy
D) Current account
E) Balance of payments
International Exchange
The trading of goods, services, and currencies among countries, allowing for the movement of resources across borders.
Current Account
A component of a country's balance of payments that includes the trade balance, net income from abroad, and net current transfers, reflecting the flow of goods, services, primary income, and secondary income.
- Understand the components and significance of the balance of payments accounts.
Verified Answer
CJ
Courtland JamesJun 20, 2024
Final Answer :
D
Explanation :
The current account summarizes the transactions involving the international exchange of goods and services, transfers, military transactions, and other miscellaneous transactions. It is a component of a country's balance of payments.
Learning Objectives
- Understand the components and significance of the balance of payments accounts.