Which of the following will form part(s) of ‘Balance of Trade’ account of India?
1. Jack, an American national, spends $2,000 on account of knee surgery in a hospital in India.
2. Geeta, an Indian national, spends $50,000 on account of a Ph.D programme in the University of California.
3. Samsung, Noida, under its ‘Make for the World’ initiative sells its premium mobile phones in Korean Market.
Select the correct answer using the code given below:
1 and 2 only
2 only
2 and 3 only
3 only
• Balance of Trade or balance of merchandize goods is an account that records all transactions of foreign currencies on account of export and import of ‘goods’ only.
• Inflows and outflows on account of medical treatment and education form a part of “Balance of Invisibles”.
The term 'West Texas Intermediate', sometimes found in news, refers to a grade of
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