If the Balance of Payments on Financial Account Is $25

question 381

Multiple Choice

If the balance of payments on financial account is $25, the balance of payments on goods and services is -$20, and the statistical discrepancy in the financial account is $2, then the sum of net international transfer payments and net international factor income is:

• A) -$7.
• B) -$5.
• C) $7.
• D) $47.

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Definitions:

Illusory Correlation

A cognitive anitr that describes when people falsely believe that two variables, such as events or actions, are related despite a lack of evidence.

Confirmation Bias

The tendency to search for, interpret, or remember information in a way that confirms one's preconceptions.

Co-worker

A person with whom one works, typically someone within the same workplace or organization.

Gambler's Fallacy

The erroneous belief that if an event occurs more frequently than normal during some period, it will happen less frequently in the future, or vice versa.