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Balance Of Payments
A record of all transactions made between one particular country and all other countries during a specified period of time.
Balance
The difference between the total credits and total debits in an account, or the stability between opposing forces.
Gold Exchange Standard
A monetary system where countries hold reserves in a currency that is convertible into gold but do not exchange currency for gold themselves; instead, the currency can be exchanged for another currency that is convertible into gold at a fixed rate.
Current Account
A component of a country's balance of payments that measures the trade balance, net primary income, and net secondary income with foreign entities.
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