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Question
Balance of current account is a ________ concept than balance of trade.
Balance of current account is a ________ concept than balance of trade.
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Solution
The correct option is C broader
The current account consists of balance of trade, net primary income or factor income and net cash transfers that have taken place over a period of time. Whereas Balance of Trade consists of only exports and imports.Hence, balance of current account is a broader concept than balance of trade.
The current account consists of balance of trade, net primary income or factor income and net cash transfers that have taken place over a period of time. Whereas Balance of Trade consists of only exports and imports.
Hence, balance of current account is a broader concept than balance of trade.
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