The Balance-Of-Payments Account Is Divided into the Following Three Major

question 69

Multiple Choice

The balance-of-payments account is divided into the following three major subaccounts:

• A) trade, capital, and debt.
• B) cash flow, assets, and reserves.
• C) services, cash flow, and debt.
• D) current, capital, and reserves.

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Definitions:

Probabilities

The measure of the likelihood that an event will occur, represented as a number between 0 and 1, where 1 indicates certainty.

Binomial Random Variable

A type of random variable that represents the number of successes in a sequence of n independent experiments.

Normal Approximation

A method used in statistics to approximate a binomial distribution with a normal distribution when the sample size is large and the probability of success is not too close to 0 or 1.

Cumulative Binomial Probabilities

The sum of probabilities of achieving a given number of successes in a fixed number of Bernoulli trials.