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Question
Cyclical disequilibrium in BOP occurs because of ______.
Options
Different paths of the business cycle.
The income elasticity of demand or price elasticity of demand is different.
long-run changes in an economy
Both (a) and (b).
Solution
Cyclical disequilibrium in BOP occurs because of both (a) and (b).
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RELATED QUESTIONS
If there is an imbalance in the trade balance (more imports than exports), it can be reduced by ______.
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Tourism and travel are classified in which a balance of payments accounts?
What do you mean by the balance of payments?
Distinguish between Balance of Trade and Balance of Payments.
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Bring out the components of balance of payments account.
Discuss the various types of disequilibrium in the balance of payments.
