Balance of Payments: The balance of payments is an indication to a country's economic development, recording financial exchanges with the world across its borders. This complex ledger typically spans a year and records every economic exchange, from the goods that cross borders to the investments thaRead more
Balance of Payments:
The balance of payments is an indication to a country’s economic development, recording financial exchanges with the world across its borders. This complex ledger typically spans a year and records every economic exchange, from the goods that cross borders to the investments that shape our future.
A balance of payments has two important components:
1. Current Account: A current account shows a nation’s everyday economic operations. It tracks activities such as the buying and selling of goods and services, the earnings of its citizens working in other countries, and financial assistance given for development.
A country with a positive current account balance has more revenue than expenses. A nation has a deficit and must borrow money if, on the other hand, its total spending exceeds its income.
2. Capital Account: This section of the balance of payments narrates the extended tale of a nation’s wealth. It oversees the flow of capital and credit, which is critical to the health of economic expansion and progress.
An excess indicates that there’s a greater inflow of foreign capital compared to outflow. A deficit indicates the opposite. This balance sheet shows whether a country is attractive for foreign investment or whether the country is making foreign investments.
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Artificial Intelligence or AI is a simulation of human intelligence in machines that can learn and think like humans. AI-integrated programs are designed to complete tasks like visual perception, text generation, speech recognition, decision-making, etc. to increase productivity and cut costs. TypesRead more
Artificial Intelligence or AI is a simulation of human intelligence in machines that can learn and think like humans. AI-integrated programs are designed to complete tasks like visual perception, text generation, speech recognition, decision-making, etc. to increase productivity and cut costs.
Types of AI:
How Is AI Performing to Generate Wealth?
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