BALANCE OF PAYMENTS / BALANCE OF TRADE Definition

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BALANCE OF PAYMENTS / BALANCE OF TRADE is the difference between a countrys total export dollar value and its total import dollar value, generally or with respect to a particular trading partner. A positive balance means a net inflow of capital, while a negative means capital flows out of the country.

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AVERAGE COST is total cost for all units bought (or produced) divided by the number of units.

RAM is Random-Access Memory.

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