Ch.32

Front 1

balance of payments

Back 1

a periodic statement (usually annual)of the money value of all transactions bewteen residents of one country and residents of all other countries.

Front 2

debit

Back 2

in the balence of payments, any transaction that supplies the countries currency in the forgein exchance market

Front 3

forgein exchnage market

Back 3

the maket in which currencies of different countries are exchanged

Front 4

credit

Back 4

in the balence of payments, any transa that crates deamnd for the country's currency in the FEX market

Front 5

current account

Back 5

includes all payments related o the purchase and sale of goods and services. components of the account include exports , imports, and net unilateral transfer funds abroad

Front 6

merchandies trade balence

Back 6

the difference between the valur of merchandise exports and the calue of merchandise imports

Front 7

merchandies trade deficit

Back 7

the situation where the value of merchandise exports is less than the value of merchandies imports

Front 8

merchandise trade surplus

Back 8

the situation where the value of merchandise exports is greater than the value of merchandise imports

Front 9

current account balence

Back 9

the summary statstic for exorts of goods and services, and net unilateral transfers abroad

Front 10

capital account

Back 10

includes all payments related to the purchase and sale of assets and to borrowing and lending activities. components include outflow of us capital and inflow of forgein capital

Front 11

capital account balence

Back 11

the summary statistic for the outfflow of us capital. it is equal to the difference between the outflow of us capital and the inflow of foreign captail

Front 12

internation monetary fund

Back 12

an international organization created to oversee the internt. monetary. the IMF does not contol the worlds money supply, but it does hold currency reserves for member nations and make loans to central banks.