Balance of Payments in International Economics
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Questions and Answers

What is the balance of payments?

  • The net income of a country
  • The difference between all money flowing into and out of a country in a specific period (correct)
  • The total amount of money flowing into a country
  • The net change in ownership of national assets

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

  • The total amount of money flowing into a country
  • The difference between all money flowing into and out of a country
  • The net change in ownership of national assets (correct)
  • The net income of a country

    • What does the current account in the balance of payments reflect?

  • The total amount of money flowing into a country
  • A country's net income (correct)
  • The net change in ownership of national assets
  • The difference between all money flowing into and out of a country

    • What was the dominant economic theory influencing European rulers beginning in the 16th century?

    <p>Mercantilism</p> Signup and view all the answers

    What were measures generally favored under mercantilism to promote a trade surplus?

    <p>Tariffs</p> Signup and view all the answers

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