2.5 Balancenof Payments Flashcards
1
Q
What is the balance of payments
A
of all international financial transactions made by residents of a country, including those related to trade, investments, and other financial flows
2
Q
What are the 3 components of the balance of payments
A
Current account
Financial account
Capital account
3
Q
What is the current account
Summary
A
Records trade in goods and services as well income flows and current transfers
4
Q
What is the current account comprised of
A
