What Are the Major Components of the Current Account in the Balance

question 157

Essay

What are the major components of the current account in the balance of payments? How is the
current account balance determined?

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Definitions:

Social Accountability

The responsibility of an organization or individual to consider and report on the social impacts and ethical implications of its activities.

Public Bodies

Organizations that are part of the government or perform public functions, such as local councils, government departments, and public corporations.

Kantian Approach

A philosophical theory based on the works of Immanuel Kant, emphasizing moral principles and the importance of the intention behind actions rather than their consequences.

Universal Law

A principle that applies universally and is accepted as governing all actions and consequences in the moral, legal, or physical realm.