AP Macro Unit 5 Summary
AP Macro Unit 5 Summary
AP Macro Unit 5 Summary
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Balance of Payments (BOP)Balance of trade includes only goods and servicebut balance of payments considers ALLinternational transactions.•The balance of payments is a broadermeasure of international trade.Details:The BOP summary is within a given yearPrepared in the domestic country’s currencyEx. If accounting the BOP of the U.S. it would be inthe Dollar.The balance of payments is made up of twoaccounts. The current account and the capitalaccount.
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