CUET Economics 2025 13 May Shift 1 PYQs

With reference to the above passage, the current account comprises?

1. Exports and Imports of visible items only.
2. Exports and imports of visible and invisible items and external borrowings.
3. Exports and imports of goods & services plus transfer payments.
4. Short Term Debt.

Under this system, official reserve transactions are not equal to zero.

The balance of payments records the transactions in goods, services and assets between residents of a country with the rest of the world for a specified time period. Identify the main accounts in the balance of payments.