Question 1
The record of a country's transactions in goods, services, and assets with the rest of the world is its
◦ current account.
◦ capital account.
◦ balance of payments account.
◦ balance of trade account.
Question 2
Any transaction that brings in foreign exchange for a country is a
◦ debit item in that country's balance of trade.
◦ debit item in that country's balance of payments.
◦ credit item in that country's balance of trade.
◦ credit item in that country's balance of payments.