Questions and Answers
What is the balance of payments?
The difference between all money flowing into and out of a country in a specific period
What does the capital account in the balance of payments reflect?
The net change in ownership of national assets
What does the current account in the balance of payments reflect?
A country's net income
What was the dominant economic theory influencing European rulers beginning in the 16th century?
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What were measures generally favored under mercantilism to promote a trade surplus?
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