3.2

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9 Terms

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Balance of Trade

Export-Import

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Trade Surplus

E>I

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Trade Deficit

E<I

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Balance of Payments

E-I+net income

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BOP other equation

Current accounts+ Capital accounts+ Financial account

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Net income examples

Foreign investments, tourism, aid, and military expenses

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Favorable balance

more money go into country

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Dumping

sell product in another country for cheaper than where its made in

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Goal of BOP

Achieve equilibrium