Which of the following statements is true about the role of gifts given to U.S. citizens from foreign residents?
A) Gifts are not included in the balance of payments because of the nature of the gift.
B) Gifts are only included in the balance of payments if the gift is given to a government official.
C) Gifts are included in the balance of payments.
D) Gifts given to U.S. citizens are not included in the balance of payments but gifts given to foreigners are included.
Correct Answer:
Verified
Q41: An accounting identity
A) ensures that all balances
Q43: An accounting identity is
A) when the balance
Q49: The current account is
A) the reserve assets
Q51: To know whether a particular situation for
Q66: In the balance of payments, the buying
Q72: An example of an import of a
Q73: The effect that a gift given to
Q73: In international trade, all payments and gifts
Q74: Ahmed is working and is spending more
Q77: Which of the following is NOT a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents