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The Balance of Trade Is Part of the Current Account

question 106

True/False

The balance of trade is part of the current account which is part of the balance of payments.


Definitions:

Own Ability

An individual's self-assessed competence or skill in a particular area.

Self-Serving Biases

Cognitive biases that lead to perceiving oneself in a favorable manner, often by attributing success to internal factors and failures to external factors.

Attributions

Explanations one gives for the causes of events, behaviors, and outcomes, often as internal (personal) or external (situational) factors.

Success

The achievement of a set goal, target, or objective.

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