The difference between money coming into a country from exports and money leaving a country due to imports, plus money flows from other factors, is known as the

Question

Tobie

Business

20 December, 16:33

The difference between money coming into a country from exports and money leaving a country due to imports, plus money flows from other factors, is known as the

+3

Answers (1)

Know the Answer?

Bryson Thomas · Answer 1

Balance of payment

Explanation:

The balance of payment is a record of all the transactions that people, organizations and government entities in the country make with the rest of the world in a specific period of time. These transactions include imports, exports, transfer payments and services and capital, among others. According to this, the answer is that the difference between money coming into a country from exports and money leaving a country due to imports, plus money flows from other factors, is known as the balance of payment.