In the Balance of Payments, Any Transaction That Leads to a Receipt

question 145

Multiple Choice

In the balance of payments, any transaction that leads to a receipt by a resident of a country is a

• A) minus item.
• B) debit item.
• C) surplus item.
• D) deficit item.

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Definitions:

Function

A relation between sets that assigns to each element of a set exactly one element of another set.

Composition

The process of combining two functions in such a way that the output of one function becomes the input of another.

Function

A relation between a set of inputs and a set of permissible outputs, often defined by an equation.

Inverse Function

A mathematical function that reverses the effect of another function, such that if the function f applied to an input x gives a result of y, then applying its inverse function to y gives the result x.