Which of the Following Is NOT One of the Components

question 1

Multiple Choice

Which of the following is NOT one of the components of the balance of payments?

• A) Currency trade
• B) Merchandise trade
• C) Service trade
• D) Capital movement

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Definitions:

Basket of Goods

A selection of various items that are used to track inflation and the cost of living over time.

Consumer Price Index

An assessment method that evaluates the overall weighted price of a variety of consumer services and goods, like food, transportation, and healthcare, aimed at measuring the rate of inflation.

Quart of Milk

A unit of liquid measurement commonly used in the United States, equivalent to approximately 0.946 liters of milk.

T-shirt

A T-shirt is a casual piece of clothing, typically made of cotton fabric, characterized by its T shape formed by the body and sleeves.