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 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 because costs increased. Remittances increased in 2021 because costs increased. Remittances increased in 2021 due to digitally based systems.
Remittances increased in 2021 due to digitally based systems.
Remittances increased in 2021 due to digitally based systems.
To determine which statement is true about remittances in the past year, we need to analyze each option and consider the associated factors.
1. "Remittances in 2021 decreased as migration decreased": This statement suggests a correlation between remittances and migration. If there was a decrease in migration during 2021, it would affect the number of remittances, likely leading to a decrease. However, we do not have any information to confirm if migration decreased in the past year.
2. "Remittances decreased due to the switch away from a cash system": This statement suggests that a change from a cash-based remittance system to a different type contributed to a decrease in remittances. While it is possible for a change in the remittance system to affect the overall flow of remittances, we have no information to determine if such a change occurred in 2021.
3. "Remittances increased in 2021 because costs increased": This statement implies that there was a rise in remittances due to increased costs. Higher costs could potentially lead individuals to send larger amounts of money to compensate. However, we lack information about the specific costs or reasons for their increase in order to confirm this statement.
4. "Remittances increased in 2021 due to digitally based systems": This statement suggests that the use of digital platforms, such as online money transfer services, contributed to an increase in remittances during 2021. This aligns with the global trend of embracing digital solutions, which have made remittance transactions more accessible and efficient. While we cannot definitively conclude if remittances increased due to digitally based systems without relevant data, this option appears to be the most plausible.
Based on the given options, statement number 4 seems to be the most likely true claim about remittances in the past year.