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Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called ______. - Economics

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MCQ
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Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called ______.

Options

  • Current transactions

  • Capital transactions

  • Autonomous transactions

  • Accommodating transactions

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Solution

Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called autonomous transactions.

Explanation:-

An autonomous item in balance of payment refers to foreign exchange transactions which are made independently of the state of the balance of payment, such as profit motive.

Concept: Concept of Balance of Payments Account
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