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Tag - Balance of Payments

Balance of Payments Continued in Economics

For examining the factors that affect international trade and lending first requires an understanding of the basics of balance of payments accounting. The Balance of Payments accounts, which are a part of the national income accounts are the record of the country’s international transactions. When we examine the accounts, we can see that the current account measures a country’s trade in currently produced goods and services, along with unilateral transfers between countries. We can divide the current account into three [...]

Balance of Payments in Economics

The Balance of Payments Accounts, which are a part of the country’s national income accounts, are the country’s international transactions. The balance of payments contains the information about how the balance of payments accounts are constructed. Modern economies have become open economies with virtually no exceptions. This means that they engage in international trade of goods and services and in international borrowing and lending. Economic openness is of tremendous benefit to the average person. Because the United States is an [...]