Economics Today: The Macro View (19th Edition) (Pearson Series in Economics)
Economics Today: The Macro View (19th Edition) (Pearson Series in Economics)
19th Edition
ISBN: 9780134478760
Author: Roger LeRoy Miller
Publisher: PEARSON
Question
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Chapter 33, Problem 3P
To determine

Balance of trade, Current account balance and Financial account balance.

Concept information:

Balance of payments is a statement of transactions between residents and business in a country with the foreign countries. It can be sub-divided into two parts- Current account and Capital account.

Current account shows all transactions of goods and services, investments, transfer payments. While the capital account shows all transactions of financial instruments and central bank reserves.

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