Imports and Exports of Activities Such as Banking,insurance,transportation and Tourism

question 26

Multiple Choice

Imports and exports of activities such as banking,insurance,transportation and tourism are registered in the

• A) the trade account.
• B) the service account.
• C) the income account.
• D) the expense account.
• E) unilateral transfers account.

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Definitions:

Rich Countries

Nations with high levels of income per capita, advanced infrastructure, and a high standard of living among their populations.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by GDP.

Real GDP Per Person

The inflation-adjusted value of goods and services produced per individual in a country.

Real GDP Per Person

A measure of the value of all finished goods and services produced within a country in a specific time period, adjusted for inflation, divided by the total population.