Many a time we come across a term in financial newspaper

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Many a time we come across a term in financial newspaper 'Balance of Payments'. What does it really reflect?

1. It is the statements of receipt from foreign countries and payments made to foreign countries
2. It is the statement of the total value of GDP and share of imports in it in terms of the percentage of GDP
3. It is the statement of Total receipts of the Government and its share in total GDP in terms of percentage
4. Only a and b

Correct Option: A

N/A