What Is the Balance of Payment?
Residents are people and firms based in the country, whatever their passport.
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1.What does the balance of payments sum up?
Residents are people and firms based in the country, whatever their passport.
2.Which section records how spending is paid for, through loans, shares, bonds and deposits?
The current account covers goods, services, income and transfers.
3.Marge's income from outside is 2,000 and her spending is 2,300. What is her current side?
A friend lends her 300, which is plus 300 on the financial side.
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Sources (2)
- IMF: Balance of Payments Statistics, Introductory Notes
- Eigene Berechnung (synthetisches Haushaltsbuch)
Education only. Not financial advice.