The 'balance of payments' is a
A) measure of the value of merchandise goods bought and sold on international trade markets.
B) summary record of a country's financial transactions with other countries.
C) record of the value of goods and services bought and sold between countries.
D) summary record of a country's purchases and sales of goods and services on international trade markets.
A country's balance of payments is best described as a system that records
A) the physical flow of goods and services between countries.
B) international trading, borrowing, and lending flows.
C) only official transactions between the government and governments of other countries.
D) the flow of investment between countries.
The 'current account' includes records of a country's
A) net exports.
B) net primary income.
C) net secondary income.
D) All of the above are included in an economy's current account.
Which of the following is not included in the 'current account'?
A) Exports of goods
B) Income received on investments
C) Transfer of migrants' income
D) Overseas debt relief by the Australian government