3 Tutorials that teach Role of International Trade
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Role of International Trade

Role of International Trade

Author: Colton Cranston

This lesson covers the Role of international trade

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Introduction to Psychology

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Notes on "Role of International Trade"

Key Terms


Shortages that result from spending in excess of revenue.

Balance of Payments

A record of all monetary transactions that flow across a

country’s border; two major components are the current account and the capital


Current Account

Represents the sum of all recorded transactions including

traded goods, services, income, and net transfer payments.

Capital Account

Captures investment and financing flows; inflows have an

appreciating impact on a given currency; outflows have the opposite, or

depreciating, impact.