Question
Current Account components of trade in services include:
(A) Gifts, Remittances
(B) Net Non-Factor Income
(C) Net Investment Income
(D) Grants
Choose the correct answer from the options given below :
(
This question was previously asked in
Shift 28/05/2023 3:30 PM - 6:30 PM
A
(A), (B) and (C) Only
B
(B) and (C) Only
C
(A) and (D) Only
D
(B), (C) and (D) Only
Correct Answer
(B) and (C) Only
Detailed Explanation
The Current Account components of trade in services include:
(B) Net Non-Factor Income - This represents income earned from services such as tourism, shipping, and insurance.
(C) Net Investment Income - This includes income earned from investments abroad, such as dividends and interest.
Therefore, the correct answer is option (2) " (B) and (C) Only." Gifts (A) and grants (D) typically fall under the Current Account but are not specifically related to trade in services.
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