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BOT consists of:*Tick the answer that IS NOT CORRECT1 pointremittancesmoney that is generated by import and exportGDPforeign aid

Question

BOT consists of:

Tick the answer that IS NOT CORRECT

1 point

  • remittances
  • money that is generated by import and export
  • GDP
  • foreign aid
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Solution

The answer that is NOT CORRECT is GDP.

Here's why:

  1. Remittances: These are funds transferred from migrants to their home country. They are part of the balance of payments (BOT).

  2. Money that is generated by import and export: This is the core of the BOT, which records all transactions between a country and the rest of the world.

  3. GDP (Gross Domestic Product): This is the total value of goods produced and services provided in a country during one year. It is not a part of the BOT.

  4. Foreign aid: This is money, resources or services that one country voluntarily transfers to another. It is part of the BOT.

This problem has been solved

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