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Chapter Three Outline Balance of Payments Accounting Balance of Payments Accounts The Current Account The Capital Account Statistical Discrepancy Official Reserves Account The Balance of Payments Identity Balance of Payments Trends in Major Countries THE TERM Balance of payment Is often mentioned in the news media and continues to be a popular subject of economic and political discourse around the world. It is not always clear, however , exactly what is meant by the term when it is mentioned in various contexts. This ambiguity is often attributable to misunderstanding and misuse of the term. T
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