The difference in total value between payments into and out of a country over a period.
- The balance of payments only records the value of given goods bought and sold by an individual or a group of individuals.
- The result was a deficit in the so-called balance of payments, which was paid for by foreigners cashing in those dollars for gold.
- The idea of calculating the so-called national balance of payments in a free market economy will be absurd.
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