In the past year, which of the following is true about remittances? (1 point)
Remittances increased in 2021 because costs increased.
Remittances increased in 2021 due to digitally based systems.
Remittances decreased due to the switch away from a cash system.
Remittances in 2021 decreased as migration decreased.
Remittances increased in 2021 due to digitally based systems.
Based on the information provided, the correct answer is: Remittances increased in 2021 due to digitally based systems.
To determine which statement about remittances in the past year is true, we need to analyze each option and consider the factors that could have influenced remittance trends. Let's examine each statement one by one:
1. Remittances increased in 2021 because costs increased.
To verify if this statement is true, we would need data on the relationship between costs and remittance amounts. This information can be obtained from relevant reports or studies on remittances. By comparing the cost data with the remittance data for 2021, we can determine if there is a positive correlation and conclude whether this statement is accurate.
2. Remittances increased in 2021 due to digitally based systems.
To assess the accuracy of this statement, we would need data on the growth of digitally based remittance systems and their impact on remittance volumes. This information could be obtained from reports or surveys conducted by financial institutions or international organizations. By analyzing the data, we can determine whether the increase in remittances corresponds to the rise in digital remittance systems and validate the statement.
3. Remittances decreased due to the switch away from a cash system.
To verify this statement, we would need information on the transition from cash-based remittance systems to alternative methods. This data could be obtained from reports on changes in remittance infrastructure or studies on remittance preferences. By comparing the remittance data before and after the transition, we can determine whether the switch away from a cash system has indeed led to a decrease in remittances.
4. Remittances in 2021 decreased as migration decreased.
To confirm if this statement is true, we would need data on migration trends during the past year. This data could be obtained from governmental records, international organization reports, or surveys conducted among migrants. By comparing the migration data with remittance figures, we can analyze whether there is a correlation between migration and remittance amounts and determine if this statement is accurate.
To determine which statement is true, it is essential to analyze the corresponding data from reliable sources. Only by examining the relevant information can we accurately assess and confirm the accuracy of the statements about remittances in the past year.