Macro 5 - Balance of Payments Flashcards
1
Q
Balance of payments
A
A record of all financial dealings over a period of time between economic agents of one country and another
2
Q
Current account
A
A record of the payments of the purchase and sale of goods and services
3
Q
Current account defecit
A
When more money leaves the country than enters
4
Q
Current account surplus
A
When more money enters the country than leaves
5
Q
Budget surplus
A
When the government recieves more money that it spends
6
Q
Budget defecit
A
When the government spends more money that it recieves
7
Q
Budget
A
Where the government lays out their spending and taxation plans
