Key Terms
Question
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Balance of payments accounts
Balance of payments on the current account (the current account)
Balance of payments on goods and services
Merchandise trade balance (trade balance)
Balance of payments on the financial account (the financial account)
Foreign exchange market
Exchange rates
Appreciates
Depreciates
Equilibrium exchange rate
Real exchange rate
Purchasing power parity
Exchange rate regime
Fixed exchange rate
Floating exchange rate
Exchange market intervention
Foreign exchange reserves
Foreign exchange controls
Devaluation
Revaluation