Which of the Following Correctly Defines Balance of Payments

question 63

Multiple Choice

Which of the following correctly defines balance of payments?

• A) The difference between the value of a country's exports and the value of its imports over a given period
• B) The difference between a country's total payments to other countries and its total receipts from other countries
• C) Total market value of all final goods and services produced in a country for a given time period
• D) Total income estimated from returning production jobs to the United States

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Definitions:

Mary Salter Ainsworth

An American-Canadian developmental psychologist known for her work in early emotional attachment theory, particularly for the development of the "Strange Situation" assessment.

Elizabeth Loftus

A cognitive psychologist famous for her work on the malleability of human memory and the misinformation effect, especially in the context of eyewitness testimony.

Mary Whiton Calkins

An influential American psychologist who became the first woman to serve as president of the American Psychological Association in 1905.

Psychology

The scientific study of the mind and behavior, encompassing various aspects of human experience, thoughts, emotions, and actions.