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The components of a balance of payments account are

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Commerce JAMB 2024

The components of a balance of payments account are

  • capital, current and fixed deposit
  • current, capital and monetary movement checkmark
  • capital, savings and fixed deposit
  • current, savings and monetary movement

The correct answer is: B

Explanation

The balance of payments (BOP) is a record of all economic transactions between residents of one country and residents of other countries over a specific period. It is divided into three main components, which are: Current, Capital and Monetary movement (financial) account.

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