chapter 14

Question 1

trade balance

Answer 1

difference between the value of goods a country exports and the value of the goods the country imports

Question 1

current account

Answer 1

recors a country net exports, net income on investments, and net transfers

Question 2

financial account

Answer 2

records purchases of assets a country has made abroad and foreign purchases of assets in the country

Question 4

capital account

Answer 4

minor transactions migrant transfers transfer and sales and purchases of non produced non fianacial assets