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CAPITAL ACCOUNT SURPLUS: An imbalance in a nation's balance of payments capital account in which payments received by the country for selling domestic assets exceed payments made by the country for purchasing foreign assets. In other words, investment by the domestic economy in foreign assets is greater than foreign investment in domestic assets. This is generally a desireable situation for a domestic economy. However, in the wacky world of international economics, a capital account surplus is often balanced by a current account deficit, which is not generally considered a desireable situation. If, however, the current account does not balance out the capital account, then a capital account surplus contributes to a balance of payments surplus.
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Lesson 17: Money | Unit 3: Monetary Aggregates
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Page: 16 of 25
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- The concept and definition of M1, which is the sum of currency and coins held by the non-bank public, and checkable deposits.
- That credit cards are not part of M1, they are not money.
- That M2 is a broader measure of money that includes M1 plus what we can call near money, that is, temporary savings, a pool of funds that can be accessed quickly and easily.
- That near monies are savings and that there are several different types of savings: standard savings accounts, certificates of deposit (CDs), money market funds, overnight Eurodollars and overnight repurchase agreements.
- M3 is equal to M2 plus other near monies which include larger denomination certificates of deposit and longer-term repurchase agreements.
- Liquid assets L, are the economy's total financial assets that can be converted to M1.
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BALANCE OF TRADE The difference between the value of goods and services exported out of a country and the value of goods and services imported into the country. The balance of trade is the official term for net exports that makes up the balance of payments. The balance of trade can be a "favorable" surplus (exports exceed imports) or an "unfavorable" deficit (imports exceed exports). The official balance of trade is separated into the balance of merchandise trade for tangible goods and the balance of services.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for deranged pelicans.
Your Complete Scope
This isn't me! What am I?
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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FXA
Foreign Exchange Agreement
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