Lesson Details

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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