Essay def Flashcards
1
Q
What is the balance of payments
A
A record of a country’s trade with other countries
2
Q
What is a current account balance?
A
A record of a countries trade in goods, services, income and current transfers
3
Q
Current account deficit
A
When a countries expenditure abroad exceeds its revenue from abroad
4
Q
Current account surplus
A
When a countries revenue abroad exceeds its expenditure from abroad
5
Q
DIS deficit
A
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