Transfer Payments -> Gifts, remittances, and grants are unilateral transfers where no goods, services, or assets are received in return. These are categorized as transfer payments in the current account of the Balance of Payments. Transfer payments include both private transfers (remittances from workers abroad, personal gifts) and official transfers (grants from foreign governments, international aid). Unlike trade in goods/services or factor income, transfer payments represent one-way flows without any quid pro quo. -> correct
Gifts, remittances and grants in current account are the components of ?
CUET UG 2025 — Economics Macro
2025mcqeasy
Gifts, remittances and grants in current account are the components of ?
Official previous-year question
Held on 30 May 2025 · Verified 13 Jul 2026.
Options
- A
Transfer Payments.
- B
Net Factor Income.
- C
Trade in Goods.
- D
Net Non-factor Income.
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