State the relation between bop and national economy
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Heya...
Answer _______
• BOP means balance of payment and it is the statement of all the transactions held in an accounting year with the rest of the world...
• National economy means the structure and the wealth of the nation...
Relation bw them :-
√ Higher the BOP means the higher in the international trade and higher international trade implies high wealth of nation that means great GDP of economy...
Thank you
Answer _______
• BOP means balance of payment and it is the statement of all the transactions held in an accounting year with the rest of the world...
• National economy means the structure and the wealth of the nation...
Relation bw them :-
√ Higher the BOP means the higher in the international trade and higher international trade implies high wealth of nation that means great GDP of economy...
Thank you
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There is a complete and consistent relationship between National economy and Balance of Payments (BOP). This is because BOP, along with International investment positions form as important and integral part of the National Accounts. ... They invoke identical concepts of economic territory and economic interest.
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