which of the following statements about remittances is false?\na. remittances are monies sent from a workers…
which of the following statements about remittances is false?\na. remittances are monies sent from a workers host country to his or her home country.\nb. remittances create purchasing power in the home country.\nc. remittances are often important to developing economies.\nd. remittances are funds transferred from a workers home country to his or her host country.\nplease select the best answer from the choices provided.\na\nb\nc\nd
Answer
Brief Explanations:
- Option A: Remittances are indeed monies sent from a worker's host country to their home country. This is a correct definition.
- Option B: When remittances are received in the home country, they can be used for consumption (e.g., buying goods and services), which creates purchasing power. This is a valid statement.
- Option C: In many developing economies, remittances contribute significantly to the GDP, help in reducing poverty, and support families. So, remittances are often important to developing economies.
- Option D: Remittances go from the host country (where the worker is employed) to the home country (where the worker's family or origin is), not the other way around. This statement is false.
Answer:
D. Remittances are funds transferred from a worker's home country to his or her host country.