Question

8. Explain the meaning of deficit in a Balance of Payments account.
{CBSE Sample Paper 2010, All India Comptt. 2013)
OR
CASE Fnraian 2014​

Answer 1

Explanation:

A balance of payments deficit means the country imports more goods, services and capital than it exports. It must borrow from other countries to pay for its imports. ... A balance of payments surplus means the country exports more than it imports.

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