If residents of the United States give more gifts to relatives abroad than they receive, unilateral transfers will be

Question

Quizplus · Accepted Answer

Unilateral transfers refer to gifts or transfers of money that do not involve any exchange of goods or services. If residents of the United States give more gifts to relatives abroad than they receive, this would result in a negative unilateral transfer balance. This means that the United States is giving more gifts/money to other countries than it is receiving from them.

If Residents of the United States Give More Gifts to Relatives