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Which of the following statements is TRUE about the role of gifts given to U.S. citizens from ...

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Which of the following statements is TRUE about the role of gifts given to U.S. citizens from ...

Which of the following statements is TRUE about the role of gifts given to U.S. citizens from foreign residents?

• Gifts are only included in the balance of payments if the gift is given to a government official.

• Gifts given to U.S. citizens are not included in the balance of payments but gifts given to foreigners are included.

• Gifts are included in the balance of payments.

• Gifts are not included in the balance of payments because of the nature of the gift.

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Economics Today: The Micro View

Edition: 19^th

Author: Miller

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