Answer to Question #204704 in Macroeconomics for Tazkiyah Jamal

Question

 country’s balance of payments …

Answer 1

A country's balance of payment is a statement that shows the total transactions within a certain country and the rest of the world during a defined period, say a financial year.

Balance of Payment could be;

BOP Surplus which happens when the level of exports in an economy is more than the imports.

BOP Deficit which happens when the total imports is higher than the total exports.