2.1.4 Balance of Payments 0.0 / 5 ? EconomicsMacroeconomicsASEdexcel Created by: 13clarkenCreated on: 18-01-19 10:43 ... of ... is the record of all financial dealings over a period of time between economic agents of one country and other countries Balance Payments 1 of 12 The ... is payments for the purchase and sales of goods and services Current Account 2 of 12 ... and ... accounts are flows of money, such as savings, investment and currency stabilisation Current Financial 3 of 12 ... is all the visible goods e.g. Raw Materials Trade in Goods 4 of 12 ... is all the invisible such as banking and insurance Trade in Services 5 of 12 Net ... is money from loan of factors of production Primary Income 6 of 12 Net ... is money from government transfers Secondary Income 7 of 12 ... is the difference between visible imports and visible exports Balance of Trade 8 of 12 A current account ... is when there are more imports than exports Deficit 9 of 12 A current account ... is when there are more exports than imports Surplus 10 of 12 Causes of ... :Low productivity, High inflation rate, Overvalued exchange rate Deficits 11 of 12 Causes of ... : High productivity, Low inflation rate, undervalued exchange rate, Lots of natural resources Surplus 12 of 12
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