Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fill in the chart, explaining what each of the accounts in the Balance of Payments includes. Current Account Trade in goods: ______________ and ____________________ Trade

Fill in the chart, explaining what each of the accounts in the Balance of Payments includes.

Current Account

Trade in goods: ______________ and ____________________

Trade in __________: examples include tourism, banking, insurance

Income earned abroad and _________________

_______________: gifts and grants from one country to another.

Capital Account

Capital transfers: money transferred from one country to another to _______________

_______________: when one country forgives money owed to it by another country

_______________: when a country buys patents, natural resource rights

Financial Account

Financial assets: ________________

Real assets:____________________

____________________: foreign currencies that a central bank holds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Reimagining Capitalism In A World On Fire

Authors: Rebecca Henderson

1st Edition

1541730151, 9781541730151

More Books

Students also viewed these Economics questions