Question of The Day03-11-2021

A statement that summarizes an economy’s transactions with the rest of world for a specified time period is known as-

Answer

Correct Answer : b ) Balance of payments

Explanation :

The balance of payments (BOP) is also known as the balance of international payments, which is a statement of all transactions carried out between entities in one country and the rest of the world over a given period, such as a quarter or a year.

It summarizes all transactions completed by individuals, companies, and government bodies of a country with individuals, companies, and government bodies outside the country.

Hence, option (b) is correct.

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