Which of the following portrays all the economic transactions of a country with the rest of the world?
A) balance of payments
B) International Comparison Program
C) purchasing power parity
D) Gross National Product per capita

Question

Quizplus · Accepted Answer

The balance of payments is a record of all economic transactions between a country and the rest of the world over a certain period of time. This includes trade in goods and services, international investment income, and transfers of money between individuals or governments. Therefore, it portrays all of the economic transactions of a country with the rest of the world. The International Comparison Program, purchasing power parity, and Gross National Product per capita are measures of economic activity but do not specifically capture all transactions with other countries.

Which of the Following Portrays All the Economic Transactions of a Country