balance of payments. The New Dictionary of Cultural Literacy, Third Edition. 2002

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The New Dictionary of Cultural Literacy, Third Edition. 2002.

balance of payments


The relationship between the payments made by one nation to all other nations and its receipts from all other nations.	1
‡ A nation whose payments exceed its receipts is said to be running an unfavorable balance of payments, which can affect the value of its currency in foreign countries. (See foreign exchange.)	2

The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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