The settlement account of the balance of payments a. records how much foreigners

Question

The settlement account of the balance of payments
a. records how much foreigners paid U.S. citizens in interest
b. records how much the U.S. government collected in tariffs
c. explains how the balance-of-payments deficit or surplus was financed
d. explains how the trade surplus was distributed



Since unilateral transfers do not involve trading of goods or services, they are not included in the current account.
True
False

As the price of U.S. dollars decreases, more foreign currency is required to purchase dollars.
True
False


There is a correlation between the level of economic development of a nation and the status of its balance of trade.
True
False

Although prices in the United States and France may be stable, changes in the exchange rate between dollars and francs can make the actual cost of trade more expensive for one or the other.
True
False

Explanation / Answer

b. records how much the U.S. government collected in tariffs

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