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Solution The correct option is C Explanation: Statement 1 is incorrect: The BoP account consists of Current account, Capital account, and Financial Account. The BoP data is being compiled and published by RBI. A BOP statement of a country indicates whether the country has a surplus or a deficit of funds. Statement 2 is correct: A closed economy which doesn’t carry out any trade with any other country or does not involve any interaction with another country has zero balance of payments. Statement 3 is correct: The Balance of Payments (BoP) includes both the current account and capital account, in the capital account there is the nation's imports and exports of capital and foreign aid.
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