CHAPTER 3 BALANCE OF PAYMENTS SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS 1. Define the balance of payments. Answer: The balance of payments (BOP) can be de fined as the statistical record of a country’s international transactions over a certain period of time presented in the form of double-entry bookkeeping. 2. Why would it be useful to examine a country’s balance of payments data? It Answer: would be useful to examine a country’s BOP
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Legal Age to Drink: Should it be Changed? In this day and age with more sophisticated teens and young people abusing alcohol‚ the issue concerning whether or not teenagers should be able to drink at a younger age is an important topic. In the article “Perils of Prohibition” Elizabeth M. Whelan argues that alcohol should be legalized at the age of eighteen instead of twenty-one. She hopes to persuade readers‚ parents‚ and educators to support her proposal for the change by successful alcohol
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Balance of Payment Balance of Payment is the recording system of economic and financial flows that take place over a specified time period between residents and non-residents of a given country. The residents of a country compromise of the general government‚ individual‚ private and non- profitable bodies serving individuals and enterprises. The Balance of Payment will consist mainly with three sections. 1. Current Account- This shows all the inflows and outflows of a country. 2. Capital Account-
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players from both sides should definitely see some type of benefit.” (Marvin Williams). Marvin Williams was a college basketball player who thinks that the NCAA will be able to pay their players. As Marvin says the NCAA is capable of doing this so if one of the most successful college basketball players ever and who was behind the scenes for many years he will know best about what is going on. This is one of the biggest reasons why the NCAA basketball should pay their athletes because they have so much
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Ryan English 1550 14 April 2010 The Electoral College: An Education in Unfair Politics To the extent this country has advanced in technology and modern conveniences‚ some laws have not changed since the early days of the establishment of our nation. One area in particular which has in more recent years caused controversy is the function of the Electoral College. The functionality and purpose of the Electoral College has become outdated and should be revamped in order to bring the system in to
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7 (a) Explain the current and financial accounts in the balance of payments. Balance of Payment or also called as BOP is a statistical statement that systematically records of all economic transactions between one country and the rest of the world during a given period of time. For example‚ BOP shows the details of the total payments made by a country and also the total receipts by it. There are three major components that are summarized in the BOP which are Current account‚ Capital account and
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College is FREE! What? Would it be grand if college was free to all citizens in the United States. "A college education is not a luxury‚ it is an necessity” -Andrew Cuomo (Friedman‚ Z.). College should be free or reduced to all who want to go. Educated people tend to make smart decisions and this world could use a few. If the current costs of college were reduced or provided at no charge‚ as it is done in other countries‚ then more Americans could receive more training‚ people could graduate debt
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now an all year type of thing‚ a famous quote said i“there is no off-season”. Athletes are being pushed to be in one sport all year long‚ instead of multiple sports per year. Pushing one sport is taking place so skills can be practiced continuously. This is a problem for the athletes during the summer. Summers should be for summer jobs and lake days‚ if we have sports constantly then athletes have no time off. Athletes need time to recover and just
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Balance of Payments Definition: BOP is a record of economic transaction between the residence of the country and the rest of the world during the period of one year. Balance of Trade Definition: BOT is the difference between the various export and import of visible goods of a country during a time. If the value of visible export exceed than the value of visible import than the balance of trade is said to be in favor. OR “The value of goods and services bought and sold in the world market.”
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trade is. There are more of exports as compared to imports in addition to other inflows like investment by foreigners of the country. We also came to know that the government has to incur the cost for holding such reserves. Balance of Payments Balance of Payment is a systematic record of all
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