Balance of Payments: Quick Quiz

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Test your understanding of the balance of payments basics.

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Montex

Canada

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Balance of Payments: Quick QuizOnline version Test your understanding of the balance of payments basics. by Montex 1 Trade in Goods refers to the export of goods and the import of goods, with the balance called the merchandise balance or visible balance. Yes No 2 The balance of payments is a summary of the payments and receipts between a country and the rest of the world for a given period, usually one year. Yes No 3 The current account records trade in goods, trade in services, transfers to and from private individuals and government, and flows of income from investments. Yes No 4 The balance of payments tracks only exports of goods and ignores services and financial inflows. Yes No 5 The capital account records investment by residents abroad and investment in the country by foreigners. Yes No 6 The official reserves account shows the effect of payment flows on a country’s official currency reserves, not just debt instruments. Yes No 7 The capital account includes both private sector investment and government investment outside the country, but excludes foreign investment into the country. Yes No 8 The balance of payments is made up of three subsections: the Current Account, the Capital Account, and the Official Reserves Account. Yes No 9 The balance of payments is typically measured over a decade, not annually. Yes No 10 A positive transfers figure in the current account means that outflows exceed inflows. Yes No

Balance of Payments: Quick QuizOnline version

Test your understanding of the balance of payments basics.

by Montex

Trade in Goods refers to the export of goods and the import of goods, with the balance called the merchandise balance or visible balance.

Yes

The balance of payments is a summary of the payments and receipts between a country and the rest of the world for a given period, usually one year.

Yes

The current account records trade in goods, trade in services, transfers to and from private individuals and government, and flows of income from investments.

Yes

The balance of payments tracks only exports of goods and ignores services and financial inflows.

Yes

The capital account records investment by residents abroad and investment in the country by foreigners.

Yes

The official reserves account shows the effect of payment flows on a country’s official currency reserves, not just debt instruments.

Yes

The capital account includes both private sector investment and government investment outside the country, but excludes foreign investment into the country.

Yes

The balance of payments is made up of three subsections: the Current Account, the Capital Account, and the Official Reserves Account.

Yes

The balance of payments is typically measured over a decade, not annually.

Yes

A positive transfers figure in the current account means that outflows exceed inflows.

Yes

You can integrate the game into an LMS compatible with LTI 1.1 or LTI 1.3 such as Canvas, Moodle, or Blackboard. This way, the scores will be automatically saved into the platform’s gradebook.

Balance of Payments: Quick Quiz

Yes or No

About this activity

Created by

Download the paper version to play

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Balance of Payments: Quick QuizOnline version

by Montex

Trade in Goods refers to the export of goods and the import of goods, with the balance called the merchandise balance or visible balance.

The balance of payments is a summary of the payments and receipts between a country and the rest of the world for a given period, usually one year.

The current account records trade in goods, trade in services, transfers to and from private individuals and government, and flows of income from investments.

The balance of payments tracks only exports of goods and ignores services and financial inflows.

The capital account records investment by residents abroad and investment in the country by foreigners.

The official reserves account shows the effect of payment flows on a country’s official currency reserves, not just debt instruments.

The capital account includes both private sector investment and government investment outside the country, but excludes foreign investment into the country.

The balance of payments is made up of three subsections: the Current Account, the Capital Account, and the Official Reserves Account.

The balance of payments is typically measured over a decade, not annually.

A positive transfers figure in the current account means that outflows exceed inflows.

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