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Economics > The Balance Of Payments > Flashcards

The Balance Of Payments Flashcards

1
Q

Balance of payments

A

A record of all financial transactions made between one country and other nations

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2
Q

Sections of the balance of payments (3)

A

Current account
Capital account
Financial account

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3
Q

Current account contents (4)

A

Trade in goods (X-M of visibles)
Trade in services (X-M of invisibles)
Primary income (DIP)
Secondary income (gov aid and gifts)

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4
Q

What are credit entries

A

Inflows

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5
Q

What are debit entries

A

Outflows

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6
Q

Examples of exported services (7)

A

Banking
Insurance
Tourism
Transport
Shipping
Education
Health

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7
Q

Examples of rewards from investment (3)

A

Dividends
Interest
Profits

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Economics (42 decks)

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