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Question
List different components of Balance of Payment on current account and capital account.
Solution
Components of current account are as follows:
- Export of goods & import of goods
- Export of services & import of services
- Unilateral transfer receipts and Unilateral transfer payments
- Income receipts & income payments
OR
- Balance of trade
- Balance of invisible trade
- Balance of unilateral transfer
Components of capital account are capital receipt & capital payment.
OR
Balance of capital account.
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