The current account is the record of A) changes in the ...

[nautica902]

The current account is the record of
 
  A) changes in the government's holdings of foreign currency.
  B) the nation's exports but not its imports.
  C) payments for imports, receipts for exports, net interest, and net transfers.
  D) a nation's international trading, borrowing, and lending.
  E) foreign investment in the nation minus the nation's investment abroad.

Question 2

What is a fractional reserve banking system? How long has the fractional reserve banking system been in existence?
 
  What will be an ideal response?

[Ksanderson1296]

Answer to Question 1

C

Answer to Question 2

A fractional reserve banking system is a system in which depository institutions hold reserves that are less than the amount of total deposits. They have been in existence at least 2,500 years.