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Cards In This Set
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Balance of payments
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A summary of transactions between domestic and foreign residents for a specific country over a specified period of time which is normally a year
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Generate credits for a country's balance
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Inflow of funds
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Outflows of funds generate
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Debits
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IMF- international monetary fund
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Located in Washington, DC along with the world bank
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Head of IMF (French)
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Christine Lacard
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Current account
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Summarizes the flow of funds between one specified country and all other countries due to purchases of goods or services or the provision of income on financial assets
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Key components of the current account
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Balance of tradefactor incometransfer payments
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Capital account
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Summarizes the flow of funds resulting from the sale of assets between one specified country and all other countries
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Key components of the capital account/financial account
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Direct foreign investmentportfolio investmentother capital investmentomissions
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Capital account
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Compares new foreign investments made by a country with the foreign investments within a country over a period of time
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Balance of trade
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Difference between total exports and imports
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Direct foreign investment
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Represents the investment in fixed assets in foreign countries that can be used to conduct business operations (acquisition of a foreign company)
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Trade volume of a European country
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30-40% of its GDP
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Trade volume of the U.S. and Japan
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Between 10-20% of GDP
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Canada
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Most U.S. exports go to
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