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Section 8: The Open Economy: International Trade and Finance Questions and Answers 2023
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balance of payment accounts - -Summary of a country's transactions with other countries. Includes current and financial accounts. -current account - -The balance of payments on goods and services plus net international transfer payments (sent by individual people to others) and factor income (money made in one country that belongs to another). -financial account - -The difference between a country's sales of its assets to foreigners and its purchases of assets from foreigners during a given period.
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Section 8: The Open Economy: International Trade and Finance Questions and Answers 2023
