ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A Mexican & mining company purchases USA made tractors & excavators. This will get recorded in the Mexican BoP as,
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Visible balance inflow
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Visible balance outflow
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Invisible balance outflow
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Capital ac outflow
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Explanation:
Detailed explanation-1: -The Balance of Payments (BOP) is a summary of the economic transactions of a country with the rest of the world for a specific period. It serves as an accounting statement on the economic dealings between residents of the country and non-residents.
Detailed explanation-2: -The balance of payment is a systematic record of all the exports and imports or the transactions that take place between the country and the foreign countries during a given period of time. It includes the purchase and sales of goods and services, unilateral transfers and capital transactions.
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