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How would you define and explain the balance of payments, and how this concept affects the ability of a country to participate in Global Trade?

  1. How would you define and explain the balance of payments, and how this concept affects the ability of a country to participate in Global Trade?
  2. What is The International Monetary Fund, and how does it facilitate world trade?
  3. How would you explain the process of Exchange Rates that are used to manage world trade by individual nations?

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