Lesson 30 Glossary
Statistical discrepancy
An adjustment made to bring the current account into balance with the capital and financial account on a country’s international balance of payments.
Capital and financial account
Part of an economy’s balance of payments account that measures flows of capital and investment.
Current account
A bank account for a business that operates like a chequing account, paying little or no interest and serving as a medium of exchange; also, part of a balance of payments account that records totals for three components: goods, services, and investment income.
Balance of payments account
National account of international payments and receipts, divided into the current account and the capital and financial account