An annual summary of country's international economic and financial transactions is ?
Correct answer: B. the international balance of payments statements
- A. the capital accounts
- B. the international balance of payments statements
- C. the long-term current account
- D. the trade accounts
Explanation
The balance of payments is the annual record of a country's economic transactions with the rest of the world, including trade, services, income, transfers, and capital flows. The capital account and trade account are only components of this broader statement.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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