The Current Account Shows International Transactions in Goods and Services

question 225

True/False

The current account shows international transactions in goods and services, the capital account shows international transactions involving the flow of financial assets, and the official reserve transactions account shows movement of international reserves.

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Definitions:

Efficient

Describes a system or process that achieves maximum productivity with minimum wasted effort or expense.

Needed Resources

Essential materials, funds, or personnel required for the execution of a project or the operation of an entity.

Payments

Transactions or transfers of money from one party to another, typically in exchange for goods, services, or to fulfill a financial obligation.

Costs

The expenditure of resources, such as time, labor, and materials, required to achieve an objective or the production of goods and services.