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6 Cards in this Set
- Front
- Back
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The sum of all financial transactions that take place between its residents and the residents of foreign nations
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Balance of payments
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Summarizes U.S. trade in currently produced goods and services
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Current account
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The difference between U.S. exports of goods and services and U.S. imports of goods and services.
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Balance on goods and services
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Debt forgiveness
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Capital account
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International asset transfers
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Financial account
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Exchange rates should eventually adjust such that they equate the purchasing powers of various currencies
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Purchasing-power-parity
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