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Deliverable Length: 900- 1,100 words
One of the more important measures in regard to international economics is the balance of payments. Think of it as a national accounting measure that looks at the flow of goods and services into and out of an economy in a given period of time.
It also shows capital flows into and out of a country. Until 1980, the United States tended to run a positive-to-neutral balance of payments position and was a creditor nation. In the course of the past 30 years, the United States has moved to a negative balance of payments and to being a debtor nation.
Review and discuss the following:
- 1. Discuss the importance of the balance of payments as an accounting measure.
- 2. Discuss the current account and its components and the capital and financial accounts and their components.
- 3. How important is the U.S. deficit in traded goods in regard to the balance of payments?
Here are some relevant articles to help you with this assignment:
**PLEASE INCLUDE 2-3 REFERENCES, this may include the references from the above articles**