The Net Value of Flows of Goods, Services, Income, and Unilateral

question 6

Multiple Choice

The net value of flows of goods, services, income, and unilateral transfers is described as the:

• A)capital account balance.
• B)current account balance.
• C)trade balance.
• D)official reserve balance.

---

Definitions:

Plane Operating Costs

The expenses associated with operating an aircraft, including fuel, maintenance, crew, and landing fees.

Variable Cost

A cost that changes in proportion with the level of output or activity.

Fixed Cost

Expenses that do not change with the level of output or sales, remaining constant even if the business activity varies.

Activity Variance

The difference between what was expected in terms of expenses or revenues for a particular activity level and what was actually realized.