Define balance of payment.
Asked by Topperlearning User | 19th Apr, 2016, 10:54: AM
The balance of payments of a country is a systematic record of all economic transactions between its residents and residents of foreign countries in a given period of time, usually one year.
Answered by | 19th Apr, 2016, 12:54: PM
- What are the two transactions which determine balance of trade?
- Define balance of payments on current account.
- Define balance of payments on capital account.
- Define autonomous items in balance of payment.
- Explain a situation where the balance of payment is deficit.
- Differentiate between balance of trade and current account balance.
- Differentiate autonomous and accommodating items of balance of payment.
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