Unit 7: Lesson 45 - International Trade: How Do We Measure Trades Across Political Borders? Many popular misconceptions evolve from reading balance of payments reports. Newspaper stories warn us of the perils of a deficit in the U.S. trade balance and a surplus in the Chinese trade balance of payments reports and help them draw accurate conclusions about the economy from these reports. Concepts: - Balance of Payments
- Capital
- Capital Account
- Current Account
- Surplus
Standards: - Standard #5: Trade
- Standard #6: Specialization
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