Balance Of Payments Flashcards
1
Q
What is the Balance of Payments
A
A record of all financial transactions between itself and the rest of the world.
2
Q
The current account
A
Records the monerety value of all trade in goods and services, income / outcome from investment and transfers to other countries, such as forign aid
3
Q
The financial account
A
A record of international flow of fiancial assest. FDI, buying a countries bonds etc.
