The measurement of all international economic transactions between the residents of a country and foreign residents is called the:
A)Balance of power
B)Balance of trade
C)Balance of payments
D)Current financial account
E)Capital trade account

Question

Quizplus · Accepted Answer

The balance of payments is the measurement of all international economic transactions between the residents of a country and foreign residents, including trade in goods and services, income flows, and financial transfers. The balance of power refers to the distribution of influence and control among nations. The balance of trade refers specifically to the difference between a country's exports and imports of goods. The current financial account and capital trade account are components of the balance of payments, but they do not encompass all international economic transactions.

The Measurement of All International Economic Transactions Between the Residents