Question : Which of the following is not a component of the balance of payments?
Option 1: Current account
Option 2: Capital account
Option 3: financial account
Option 4: Trade account
Correct Answer: Trade account
Solution : The correct answer is (d) Trade account
The "Trade account" is not a separate component of the balance of payments. However, it is commonly used to refer to the balance of trade, which is the difference between a country's exports and imports of goods and services.
Question : Which of the following is not a component of the current account?
Option 1: Merchandise trade balance
Option 2: Services trade balance
Option 3: Income balance
Option 4: Capital balance
Question : The balance of trade is a part of which account in the Balance of Payments?
Option 1: Current Account
Option 2: Capital Account
Option 3: Financial Account
Option 4: Reserve Account
Question : Which of the following is not a component of the current account in the balance of payments?
Option 1: Goods and services
Option 2: Income from abroad
Option 3: Capital flows
Option 4: Financial account
Option 4: financial account
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