Question
The balance of payments ____.
b and e
is always zero
is positive when the nation runs a trade surplus
is negative when the nation runs a trade deficit
is an itemized account of a nation's foreign economic transactions
b and e
is always zero
is positive when the nation runs a trade surplus
is negative when the nation runs a trade deficit
is an itemized account of a nation's foreign economic transactions
Answers
GPT-5 mini
b and e
The balance of payments is an itemized record of a nation's international transactions, and by accounting identity (credits = debits, including official financing/errors & omissions) it sums to zero. Trade surplus/deficit refers to the current account, not the overall BOP.
The balance of payments is an itemized record of a nation's international transactions, and by accounting identity (credits = debits, including official financing/errors & omissions) it sums to zero. Trade surplus/deficit refers to the current account, not the overall BOP.