AP Macroeconomics : International Trade Quiz

Quiz
*Theme/Title:	International Trade
* Description/Instructions
The Balance of Payments is the difference between the funds received by a country and those paid by a country for all international transactions. The current account is equal to the difference between exports and imports. The financial account is the difference between capital inflows and outflows which includes payments for physical and financial assets. A currency is said to appreciate when there is an increase in the value of one currency in terms of another. A currency loss of value of a country's currency with respect to another is depreciation. Countries use a double-entry accounting system to track transactions between residents that are recorded in the Balance of Payments. Because the Balance of Payments uses a double-entry system of debits and credits, the balance is always zero. That is, debits must equal credits. An export is recorded as a credit and an import is recorded as a debit in the current account.
Group:	AP Macroeconomics AP Macroeconomics Quizzes
Topic:	AP Macroeconomics

All Quizzes

To link to this page, copy the following code to your site:

<a href="https://www.softschools.com/quizzes/ap_macroeconomics/international_trade/quiz10471.html">International Trade</a>