Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Explore a wealth of knowledge from professionals across various disciplines on our comprehensive Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

The balance of payments _________. adds up the value of all assets and liabilities of a country on a specific date. records all international transactions for a country over a period of time. determines the eligibility of countries for IMF aid.

Sagot :

Lanuel

Answer:

records all international transactions for a country over a period of time.

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Basically, trade can be categorized into two (2) main groups and these are;

I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.

II. Export: it involves the sales of goods produced in a domestic country to a foreign country.

The balance of payments is a financial statement used for recording all the international transactions for a country over a specific period of time. Thus, it gives the difference in total value between the payments for goods or services into and out of a country over a specific period of time.

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.