Concerning the balance-of-payments statement, the ______ indicates the receipts from exports of goods and services sold overseas, the payments for imports of goods and services from overseas, unilateral transfers (net), and income receipts and payments (net).
A) capital and financial account
B) current account
C) official reserve asset account
D) monetary gold account

Question

Quizplus · Accepted Answer

The current account includes the receipts from exports of goods and services sold overseas, the payments for imports of goods and services from overseas, unilateral transfers (net), and income receipts and payments (net). The capital and financial account includes all transactions associated with changes of ownership in foreign financial assets and liabilities. The official reserve asset account includes any transactions in official reserve assets, such as gold, foreign currencies, and Special Drawing Rights. The monetary gold account includes transactions in gold among central banks and the International Monetary Fund.

Concerning the Balance-Of-Payments Statement, the ______ Indicates the Receipts from Exports