Balance Of Payments

Question 0

How does the balance do payments work?

Answer 0

Figures tell us how much is spending spent by economic agents on imports and how much we are exported to other countries. It’s split into the current account and capital and financial account.

Question 1

What is the balance of payments?

Answer 1

A set of accounts that record one countries trade dealings with the rest of the world

Question 2

What is the current account?

Answer 2

Part of the balance of payments. Consists of international trade in good and services.

Question 3

What does the current account consist of?

Answer 3

Trade in goods and services, net incomes and net transfers.

Question 4

Wha are trade in goods and services?

Answer 4

Balance of money going in and out through export and import of services and services.

Question 5

What are net incomes?

Answer 5

Part of the current account. Is all the money going in and out through dividends, rents, and interest earned from investment.