The Effect That a Gift Given to a U

question 24

Multiple Choice

The effect that a gift given to a U.S. citizen from a foreign resident will have on the balance of payments is to

• A) increase the current account balance.
• B) have no effect on the balance of payments if the gift was made in the U.S.
• C) have no effect on the balance of payments if the gift was made by a foreign country.
• D) decrease the balance of payments.

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