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Current account: A category of balance of payments transactions that measures the exchange of merchandise, the exchange of services, and unilateral transfers. The balance on current account tracks the value of a country’s exports of goods and services (including income on investments abroad) and transfer payments (private and government) relative to the value of that country’s imports of goods and services and transfer payments (private and government).
Capital account: A category of balance of payments transactions that measures flows of financial assets.
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Mylab Economics With Pearson Etext -- Access Card -- For Economics Today: The Macro View
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