What are the main components of balance of payments?
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✔✅The balance of payments has three components. They are the current account, the financial account, and the capital account. The current account measures international trade, net income on investments, and direct payments. The financial account describes the change in international ownership of assets.
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The Current Account including Merchandise (Exports Imports), Investment income (rents, profits, interest)
The Capital Account measuring Foreign investment in the U.S. and U.S.investment abroad.
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