A country's balance of payments summarizes all economic transactions during a given period between residents of that country and residents of other countries.

Question

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The balance of payments is a summary of all economic transactions, including financial and non-financial, between residents of a country and those of other countries during a given period. It includes transactions in goods, services, income, and financial assets, as well as transfers such as foreign aid and remittances.

A Country's Balance of Payments Summarizes All Economic Transactions During