Questions and Answers
What is the balance of payments?
The difference between all money flowing into a country and the outflow of money to the rest of the world
What are the two components of the balance of payments?
Current account and capital account
Which economic theory influenced European rulers in the 16th century?
Mercantilism
What did mercantilism favor as a measure to promote a trade surplus?
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How was international trade regulated in the Middle Ages in Europe?
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