Balance of Payments in International Economics
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Questions and Answers

What is the balance of payments (BOP) of a country?

  • The difference between trade surplus and trade deficit
  • The difference between money flowing into and out of the country in a specific period (correct)
  • The total amount of money flowing into the country
  • The total amount of money flowing out of the country

    • Which component of the balance of payments reflects a country's net income?

  • The trade account
  • The financial account
  • The current account (correct)
  • The capital account

    • What does the capital account of the balance of payments reflect?

  • The total amount of money flowing out of the country
  • The trade balance of a country
  • The net change in ownership of national assets (correct)
  • The total amount of money flowing into the country

    • During which era did mercantilism become the dominant economic theory influencing European rulers?

    <p>16th century</p> Signup and view all the answers

    How was international trade regulated in the Middle Ages in Europe?

    <p>At municipal level to ensure security for local industry and established merchants</p> Signup and view all the answers

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