Which of the Following Is a Yearly Summary of All

question 114

Multiple Choice

Which of the following is a yearly summary of all the economic transactions between residents of one country and residents of the rest of the world?

• A) the balance of trade
• B) the balance of the capital account
• C) the balance of the current account
• D) the balance of payments

---

Definitions:

Variable Cost

Costs that vary directly with the level of production or sales, such as materials and labor.

Rate of Return

The profit or deficit incurred on an investment during a certain period, shown as a percentage of the original investment amount.

Target Cost

The maximum amount that can be spent on a product to ensure a desired profit margin is achieved.

Market Dictated Price

The price of a good or service as determined by the supply and demand dynamics in the open market.