in the U.S. balance of payments, as well as balance of payments of other countries with...

in the U.S. balance of payments, as well as balance of payments of other countries with a high outflow of unilateral transfers, unilateral transfers are recorded as_____?

Expert Solution

in the U.S. balance of payments, as well as balance of payments of other countries with a high outflow of unilateral transfers, unilateral transfers are recorded as DEBIT ITEM IN THE CURRENT ACCOUNT OF BALANCE OF PAYMENT.

EXPLANATION

The balance of payments (BOP) is the place where countries record their monetary transactions with the rest of the world. There are three components of balance of payment viz current account, capital account, and financial account. The total of the current account must balance with the total of capital and financial accounts in ideal situations.

The CURRENT ACCOUNT is used to monitor the inflow and outflow of goods and services between countries. Examining the current account portion of a country's BOP can provide a good idea of its economic activity. Current transfers are UNILATERAL TRANSFERS with nothing received in return. These include workers' remittances, donations, aids and grants, official assistance, and pensions.Any inflow is put in under credit and any OUTFLOW is put under DEBIT

Rahul Sunny answered 5 months ago

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