Which of the following summarizes the transactions involving the international exchange of goods and services,investment income,and other miscellaneous transactions?

Question

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The current account summarizes the transactions involving the international exchange of goods and services, investment income, and other miscellaneous transactions. It includes exports and imports of goods and services, net income from abroad, and current transfers. The balance of trade specifically refers to the difference between exports and imports of goods only. The capital account includes transactions involving capital transfers and purchases and sales of assets between residents and non-residents. The statistical discrepancy reflects errors and omissions in the accounting of international transactions.

Which of the Following Summarizes the Transactions Involving the International