chapter 10 the international trade and capitol flows

balance of trade (trade balance) - the gap, if any, between a nation’s exports and imports
current account balance - a broad measure of the balance of trade that includes trade in goods and services, as well as international flows of income and foreign aid
exports of goods and services as a percentage of GDP - the dollar value of exports divided by the dollar value of a country’s GDP
financial capital - the international flows of money that facilitates trade and investment
merchandise trade balance - the balance of trade looking only at goods
national savings and investment identity - the total of private savings and public savings (a government budget surplus)
unilateral transfers - “one-way payments” that governments, private entities, or individuals make that they sent abroad with nothing received in return