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What are the implications and uses of the balance of payments statement?
Balance of payments (BoP) accounts are an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers. The BoP accounts summarize international transactions for a specific period, usually a year, and are prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as negative or deficit items.
When a firm sells a good or a service the sale contributes to the nations income?
When a firm sells a good or a service, the sale contributes to the nation's income
Why is the tourist dollar so valuable?
Nations that depend on tourism have every interest in bringing as many tourists as possible to visit their nation. Tourists buy goods while on vacation. This stimulates businesses and brings new funds into the economy. Such is the value of tourism. It's an economic boost to a nation's economy.
What does high dollar mean?
A high dollar means that the currency of a nation is valued as being higher when compared to other nations. Nations with a high dollar have more purchasing power as a result. For example, one Canadian dollar is equivalent to about 53 Indian Rupees, which means that the Canadian dollar has a high dollar.
Where does the UN get its finances?
The United Nations receives its annual funding from the govern­ments of its 192 member states. How much each member nation contributes is based on the member's ability to pay. Factors such as national income, population and level of debt are considered when calculating a nation's contribution. Wealthier nations contribute signi­ficantly more than their poorer counterparts. For example, in 2006, France contributed 6 percent of the regular budget, while Liberia's contribution was just 0.001 percent.
Nation's imports and its exports is referred to as?
Net exports or the balance of trade.
What is the difference in value between what a nation imports and what it exports over time?
The the difference in value between what a nation imports and exports over time is called the trade balance. If a nation exports more than it imports, it has a trade surplus. If a nation imports more than it exports, it has a trade deficit. This trade balance can impact a nation's currency value and overall economic health.
What is the term used by economist to describe where a nation exports more than it imports?
The country's net exports are positive(net exports being exports minus imports)
What is the difference in value between what a nation imports and what it exports?
The difference in value between what a nation imports and what it exports is called the trade balance. If a country exports more than it imports, it has a trade surplus. If it imports more than it exports, it has a trade deficit. A balanced trade is when a country's imports and exports are equal.
Would a nation rather have more imports or more exports?
export
How do net exports help determine the nation's income?
When imports exceed exports, a trade deficit can occur
What is the difference in the value between what a nation imports and what it exports over time?
hairy nut nation
What are taxes on imports and exports called?
Taxes that are placed on imports and exports are referred to as tariffs. A debate exists regarding whether or not high tariffs help or hurt a nation's economy.
What is the balance of trade?
The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the relationship between a nation's imports and exports.
What do you call the situation that exists when a nation exports more than it imports?
trade surplus
When a nation imports more than it exports economists say it has what?
Its known as a trade surplus
When a nation imports more than it exports economist says it has what?
Its known as a trade surplus
