In the past year, which of the following is true about remittances?
Responses
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.
Remittances increased in 2021 because costs increased.
Remittances increased in 2021 due to digitally based systems.
In the past year, the following statement is true about remittances:
Remittances increased in 2021 due to digitally based systems.
To find the answer to which of the following is true about remittances in the past year, we can look for reliable sources that provide statistics and insights on remittances. Here's a step-by-step process you can follow to find the answer:
1. Start by searching for reputable news websites, financial institutions, or international organizations that specialize in economic data and trends. Examples of these sources include the World Bank, International Monetary Fund (IMF), or financial news outlets like Bloomberg or Reuters.
2. Once you have identified a reliable source, navigate to their website and search for their reports, articles, or publications related to remittances.
3. Look for recent reports or articles from the past year or the most up-to-date information available. These sources might contain statistics, analyses, or expert opinions on the trends and changes in remittances during that particular time period.
4. Scan through the information provided and look specifically for details about whether remittances decreased or increased, and what factors contributed to those changes. Pay attention to any mention of the switch to cashless systems, migration patterns, or cost factors.
5. Once you have gathered the relevant information, compare it to the given options to see which one aligns with the findings from your research.
By going through this process, you should be able to find out which statement is true about remittances in the past year based on reliable sources and data.