____ represent aid, grants, and gifts from one country to another.

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Transfer payments represent aid, grants, and gifts from one country to another, such as foreign aid, disaster relief or remittances. Factor income refers to the income earned from factors of production, such as labor or land, in international trade. The balance of trade measures the difference between a country's exports and imports. The balance of payments is a record of all financial transactions between a country and the rest of the world. The capital account records all transactions involving the transfer of capital, such as the purchase or sale of assets.

____ Represent Aid, Grants, and Gifts from One Country to Another