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Economics · Oct / Nov 2023 · Paper 12 · Question 30

2281Current account of the balance of payments

Many European firms employ workers from the Philippines. These workers send part of their income to relatives in the Philippines. In which part of the balance of payments current account for the Philippines would these transactions be recorded?

  1. Aprimary income
  2. Bsecondary income
  3. Ctrade in goods
  4. Dtrade in services

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Correct answer: B. secondary income

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