The effect that a gift given to a U.S. citizen from a foreign resident will have on the balance of payments is to
A) increase the current account balance.
B) have no effect on the balance of payments if the gift was made in the U.S.
C) have no effect on the balance of payments if the gift was made by a foreign country.
D) decrease the balance of payments.
Correct Answer:
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A) transactions that take place
