In the past year, which of the following is true about remittances?(1 point) Responses Remittances in 2021 decreased as migration decreased. Remittances in 2021 decreased as migration decreased. Remittances increased in 2021 because costs increased. Remittances increased in 2021 because costs increased. Remittances decreased due to the switch away from a cash system. Remittances decreased due to the switch away from a cash system. Remittances increased in 2021 due to digitally based systems.
Remittances increased in 2021 due to digitally based systems.
In the given options, the true statement about remittances in the past year is:
- Remittances increased in 2021 due to digitally based systems.
To determine which of the statements is true about remittances in the past year, we need to analyze the given options.
Option 1 states that remittances in 2021 decreased as migration decreased. This means that if there was a decline in migration, then remittances would also decrease. To verify this, we would need data on migration trends and remittance amounts for the year 2021.
Option 2 is the exact same statement as option 1, so we can skip it.
Option 3 suggests that remittances increased in 2021 because costs increased. This means that if the costs associated with remittances went up, then the remittance amounts would also increase. Again, to confirm this, we would need data on the costs and remittance amounts in 2021.
Option 4 is the same as option 3, so we can skip it.
Option 5 states that remittances decreased due to the switch away from a cash system. This means that if there was a shift from a cash-based remittance system to another form of transfer, then remittance amounts would go down. Once more, we would need data on this switch and its impact on remittance amounts.
Option 6 claims that remittances increased in 2021 due to digitally based systems. This implies that if there was a shift towards digital remittance methods, then remittance amounts would increase. We would need data on the adoption of digital systems and its effect on remittance amounts to confirm this.
Without access to the necessary data, it is difficult to determine which statement is true about remittances in the past year. To get an accurate answer, we would need official statistics or reports from reputable sources that provide information on migration, costs, cash system changes, and digital system adoption, as well as their impact on remittance amounts in 2021.