Which of the following makes up the balance on current account?
a. The capital account, the merchandise trade balance, and net investment income from abroad.
b. The balance on goods and services, net investment income from abroad, and net unilateral transfers abroad.
c. The merchandise trade balance, net unilateral transfers abroad, and capital inflows.
d. The balance on goods and services plus capital outflows minus net unilateral transfers abroad.
b
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Which of the following will result in an outward shift of the production possibilities curve [PPC]?
a. A decrease in the quantity of resources b. An improvement in the quality of resources c. A fall in education standards d. An unsustainable growth in population e. An increase in unemployment rate
If the government were to increase taxes, it would be enacting:
A. contractionary fiscal policy. B. expansionary fiscal policy. C. contractionary monetary policy D. expansionary budgetary policy.