BANK SBI PO Mock Test Series 2025 (Pre + Mains) Business Environment and International Business India’s foreign trade policy Balance of payments (BOP)
Which of the following statements is INCORRECT?
1
When the real exchange rate is one, the countries are said to be in purchasing power parity.
2
Nominal Exchange Rate is the price of one unit of foreign currency in terms of domestic currency.
3
When exports exceed imports, there is a trade deficit.
4
The Balance of Payments records a country's transactions with the rest of the world.
5
None of the above