Chapter 17 - The balance of payments
Order by
4 terms
Terms | Definitions |
|---|---|
 The current account has four parts | trade in goods, trade in services, investment income, current transfers |
| balance of trade | visible exports - visible imports |
| why is the trade balance importan? | exports are injections, employment (particularly in the manufacturing industry |
| transfers comprise of | grants, UK contributions to the european budget, contributions to international organistions, troops abroad, embassies |
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