Match the items of List-I with the items of List-II: List-I List-II (a) Balance of trade (i) Imports…
Balance of trade matches the value of exports and imports, while the current account covers goods, services and unilateral transfers. Balance of payments records all…
Choose your answer
Match the items of List-I with the items of List-II:
| List-I | List-II |
| (a) Balance of trade | (i) Imports and exports of goods and services and unilateral transfer of goods and services |
| (b) Current Account | (ii) Transaction relating to changes in 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 matches the value of exports and imports, while the current account covers goods, services and unilateral transfers. Balance of payments records all economic transactions with the rest of the world. In a broad classification, the capital account records changes in financial assets and liabilities.
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West Bengal SET (WB SET)