If we compile data on a country's exports and imports of goods and services, its unilateral transfers, and net factor income flows, the resulting net credit or net debit account would be called that country's
A) balance of trade.
B) balance on current account. .
C) financial account balance.
D) official reserve transactions balance

Question

Quizplus · Accepted Answer

The balance on current account comprises a country's exports and imports of goods and services, unilateral transfers, and net factor income flows. It represents the net credit or net debit position of a country in its transactions with the rest of the world on current account items. Choices A, C, and D refer to different components of a country's overall balance of payments.

If We Compile Data on a Country's Exports and Imports