Discuss the concept balance of payments

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Reference no: EM1375087

The other significant indicator in international trade is balance of payments. Summarize your understanding of microeconomic and macroeconomic theory in a discussion of balance of payments and its effects on national and global economic systems.

Question: How do the balance of trade and the balance of payments affect one another? Together how do they affect global commerce?

Question: How do they impact the domestic economies of nations?

Question: How do they affect individual business decisions?

Reference no: EM1375087

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