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