Explain the difference between a Balance of Payments (BOP) deficit and surplus. If a country were on a pure floating exchange rate system, would it be possible for the country to have either a BOP deficit or surplus? Explain your answer. (10 points) ?

*****Please explain the difference between Balance of Payments deficit and Balance of Payments surplus.

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Answer the question: If a country were on a pure floating exchange rate system, would it be possible for the coutnry to have either a BOP deficit or a BOP surplus ? Explain you answer?***