The components of a balance of payments account are

JAMB Commerce 2024 132 views
Source: JAMB · 2024

The components of a balance of payments account are

  1. capital, current and fixed deposit
  2. capital, savings and fixed deposit
  3. current, capital and monetary movement ✓
  4. current, savings and monetary movement
Explanation

Balance of payments has three parts: current account, capital account, and financial account.

Current covers trade in goods and services. Capital covers investments and loans.

These together show all money flowing in and out of a country.

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