The balance of payments is an annual summary of the United States' federal budget transactions.

Question

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The balance of payments is a record of all transactions between the United States and the rest of the world over a specified period of time, typically a year. It includes transactions related to exports and imports of goods and services, financial flows, and transfers of capital. It is not related to the federal budget transactions of the United States.

The Balance of Payments Is an Annual Summary of the United