Which of the following correctly defines balance of payments?
A) The difference between the value of a country's exports and the value of its imports over a given period
B) The difference between a country's total payments to other countries and its total receipts from other countries
C) Total market value of all final goods and services produced in a country for a given time period
D) Total income estimated from returning production jobs to the United States

Question

Quizplus · Accepted Answer

The balance of payments is a record of all economic transactions between residents of a country and the rest of the world, including total payments and receipts.

Which of the Following Correctly Defines Balance of Payments