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12 Cards in this Set

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balance of payments
a periodic statement (usually annual)of the money value of all transactions bewteen residents of one country and residents of all other countries.
debit
in the balence of payments, any transaction that supplies the countries currency in the forgein exchance market
forgein exchnage market
the maket in which currencies of different countries are exchanged
credit
in the balence of payments, any transa that crates deamnd for the country's currency in the FEX market
current account
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
merchandies trade balence
the difference between the valur of merchandise exports and the calue of merchandise imports
merchandies trade deficit
the situation where the value of merchandise exports is less than the value of merchandies imports
merchandise trade surplus
the situation where the value of merchandise exports is greater than the value of merchandise imports
current account balence
the summary statstic for exorts of goods and services, and net unilateral transfers abroad
capital account
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
capital account balence
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
internation monetary fund
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.