Draw up a list of items that belong on the credit side of the balance of international payments and another list of items that belong on the debit side. What is meant by a trade surplus? By the balance on current account?
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Step 1:** List of items that belong on the credit side of the balance of international payments: - Export of goods - Export of services - Transfer of payment from foreign country - Earning of foreign investment - Borrowing from the foreign country - Lending to Show more…
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