Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
6th Edition
ISBN: 9781337386920
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Chapter 3.1B, Problem 3CC
Summary Introduction

To determine: The difference over balance of trade and balance of payment.

Introduction: Balance of trade is a declaration that catches the nation's import and export of products with the rest of the world. Balance of Payment is a declaration that monitors every single monetary trading activity done by the nation with the rest of the world.

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