Balance of payments of a country includes ?
Correct answer: D. A and B of above
- A. Balance of trade
- B. Capital receipts and payments
- C. Savings and investment account
- D. A and B of above
Explanation
The balance of payments records both current transactions, including the balance of trade, and capital or financial receipts and payments. Therefore, both A and B are included.
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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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