Asked by
Victor Torres
on Nov 05, 2024Verified
Compensation sent back to family in the home country by recent emigrants is known as
A) remittances.
B) transaction costs.
C) outsourcing.
D) capital flight.
Remittances
Funds sent by individuals working abroad to people in their home country.
Emigrants
Emigrants are individuals who leave their country of origin to live permanently in another country, contributing to population and labor force changes.
Capital Flight
The rapid movement of large sums of money or capital out of a country due to economic or political instability.
- Understand the effects of remittances on the economic development of developing nations.
Verified Answer
CE
Learning Objectives
- Understand the effects of remittances on the economic development of developing nations.
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