The following item does not appear in the balance of payments:

Question

Quizplus · Accepted Answer

The balance of payments records transactions between residents of a country and the rest of the world in a given period. It includes unilateral transfers, direct foreign investment, and private capital inflows. However, the total stock of U.S. Treasury bonds held by foreigners is a stock variable, not a flow variable, and thus does not appear in the balance of payments, which records flows.

The Following Item Does Not Appear in the Balance of Payments