| With reference to Balance of Payments, which of the following constitutes/constitute the Current Account? |
| 1. Balance of trade |
| 2. Foreign assets |
| 3. Balance of invisibles |
| 4. Special Drawing Rights. Select the correct answer using the code given below. |
A) 1 only
B) 2 and 3
C) 1 and 3
D) 1, 2 and 4
Correct Answer: C
Solution :
Current account includes all those transactions which give rise to or use up national income. Thus, the Current Account consists of two major items Merchandise exports and imports Invisible exports and imports.
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