ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A credit in the financial account.
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A primary income debit in the current account.
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A debit in the financial account.
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A primary income credit in the financial account.
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Detailed explanation-1: -Funds entering a country from a foreign source are booked as credit and recorded in the BOP.
Detailed explanation-2: -Germany-Balance of payments, financial account was EUR57466. 00 Million in December of 2022, according to the EUROSTAT.
Detailed explanation-3: -The balance of payments summarises the economic transactions of an economy with the rest of the world. These transactions include exports and imports of goods, services and financial assets, along with transfer payments (like foreign aid).
Detailed explanation-4: -It is calculated by subtracting the value of the goods and services Australia buys from overseas from the value of the goods and services we sell to other countries. As of December 2022, Australia’s trade balance was $12, 237 million (seasonally adjusted).