The Current Account

question 8

Multiple Choice

The current account

• A) does not account for interest payments paid to and received from the rest of the world.
• B) measures our imports minus our exports.
• C) measures our exports minus our imports taking into account interest payments paid to and received from the rest of the world.
• D) is part of GDP.

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Definitions:

Frozen Food

Food that has been subjected to freezing and is stored at extremely low temperatures to preserve its freshness, taste, nutritional value, and shelf life.

Opportunity Cost

The financial impact of rejecting the subsequent preferable alternative while deciding.

Housework

Tasks and chores done to maintain household operations, including cleaning, cooking, and home maintenance.

Work Force

The total number of people available to work, including both the employed and those seeking employment in a particular country or region.