Question : The balance of payments is a systematic record of a country's:

Option 1: Imports and exports only

Option 2: Imports and financial transactions only

Option 3: Imports, exports, and financial transactions

Option 4: Imports, exports, and domestic production

Question : The balance of payments is a record of:

Option 1: Government revenue and expenditure

Option 2: Imports and exports of goods only

Option 3: Financial transactions between residents and non-residents

Option 4: Gross domestic product (GDP) and economic growth

Question : A current account deficit indicates that a country is spending more on __________than it is earning from__________.

Option 1: exports, imports

Option 2: goods, services

Option 3: capital, financial

Option 4: imports, exports

Question : ___________ is the difference between a country's exports and imports of goods and services.

Option 1: Trade deficit

Option 2: Trade surplus

Option 3: Balance of payments

Option 4: Current account

Question : Which of the following is not a component of the current account in the balance of payments?

Option 1: Exports of goods and services

Option 2: Imports of goods and services

Option 3: Income from abroad

Option 4: Capital flows