Economics Was Originally Called

question 71

Multiple Choice

Economics was originally called

• A)political engineering.
• B)political economy.
• C)economic physics.
• D)social engineering.
• E)social physics.

---

Definitions:

Unilateral Transfers

Financial flows from one country to another that do not require repayment, such as foreign aid or remittances.

Balance of Payments

A record of all economic transactions between the residents of a country and the rest of the world within a certain period.

Exports

Products or services transferred from one nation to another for the purpose of sale or exchange.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.