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What is the balance of payments (BOP) of a country?
What is the balance of payments (BOP) of a country?
- The difference between trade surplus and trade deficit
- The difference between money flowing into and out of the country in a specific period (correct)
- The total amount of money flowing into the country
- The total amount of money flowing out of the country
Which component of the balance of payments reflects a country's net income?
Which component of the balance of payments reflects a country's net income?
- The trade account
- The financial account
- The current account (correct)
- The capital account
What does the capital account of the balance of payments reflect?
What does the capital account of the balance of payments reflect?
- The total amount of money flowing out of the country
- The trade balance of a country
- The net change in ownership of national assets (correct)
- The total amount of money flowing into the country
During which era did mercantilism become the dominant economic theory influencing European rulers?
During which era did mercantilism become the dominant economic theory influencing European rulers?
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How was international trade regulated in the Middle Ages in Europe?
How was international trade regulated in the Middle Ages in Europe?
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