List the Three Functional Classifications of Joints,and Briefly Describe the Basis

question 28

Essay

List the three functional classifications of joints,and briefly describe the basis for the functional classification of joints.

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Definitions:

Current Account Deficit

A situation where a country's total imports of goods, services, and transfers are greater than its total exports, indicating that it is spending more foreign currency than it is earning.

Merchandise Trade Deficit

A situation where a country's imports of goods exceed its exports of goods over a given period, leading to a negative balance of trade.

Service Trade Deficit

The situation where the value of a country's imports of services exceeds the value of its exports of services.

Capital Account Surplus

A situation where the inflows of foreign capital exceed the outflows, often reflecting in a nation's balance of payments.