The record of a country's transactions in goods, services and assets with the rest of the world is its ?
Correct answer: D. balance of payments
- A. balance of trade
- B. capital account
- C. current account
- D. balance of payments
Explanation
The balance of payments records a country's transactions with the rest of the world, including goods, services, income and asset movements. The balance of trade covers only merchandise exports and imports, so it is narrower.
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About Macroeconomics
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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