Balance Of Payments And Exchange Rate — Important Questions
ICSE · Class 12 · Economics
70 important questions from Balance Of Payments And Exchange Rate for ICSE Class 12 Economics, with answers. Written for the board exams 2027.
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Important Questions from Balance Of Payments And Exchange Rate
Which three features define Balance of Payments?
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Systematic record, Components of current and capital account, Flow concept
BOP has three defining features: it is a systematic record, it has current and capital account components, and it is a flow concept.
Which items are classified as visible items of trade?
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Export of goods, Import of goods
Visible items of trade are exports and imports of goods, because goods can be seen and recorded at customs.
Which account records imports and exports of goods and services and unilateral transfers?
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Current Account
The current account records goods, services, and unilateral transfers.
Current account transactions are also called what?
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Account of actual transactions
Current account is called the account of actual transactions because the items are actually transacted.
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