Match the items of List-I with the items of List-II and choose the correct answer from the code given…
Balance of trade (a) records the value of merchandise exports and imports of a country (iv); Current account (b) records imports and exports of goods and services plus…
Choose your answer
Match the items of List-I with the items of List-II and choose the correct answer from the code given below.
(a) Balance of trade — (i) Imports and exports of goods and services and unilateral transfer of goods and services
(b) Current account — (ii) Transactions leading to changes in the financial assets and liabilities of a country
(c) Balance of payments — (iii) All economic transactions between a country's residents and residents of other countries
(d) Capital account — (iv) Value of exports and imports of a country
Answer and explanation
Correct answer A
Balance of trade (a) records the value of merchandise exports and imports of a country (iv); Current account (b) records imports and exports of goods and services plus unilateral transfers (i); Balance of payments (c) encompasses all economic transactions between a country's residents and the rest of the world (iii); and Capital account (d) records transactions altering international financial assets and liabilities (ii).
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UGC NET Commerce