The record of a country's imports and exports of of goods and services plus net investment incomes and current transfers of money to and from abroad, is called its ?
Correct answer: A. balance of payments on current account
- A. balance of payments on current account
- B. visible trade balance
- C. balance of trade
- D. balance of payments
Explanation
The current account covers trade in goods and services, investment income, and current transfers such as remittances. The balance of trade is narrower because it includes only goods.
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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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