Question

The record of all economic transactions between the residents of a country and the rest of the world is called​ ________.

Answer 1

The answer is "B.O.P. or BoP", balance of payments.

Balance of payments of a nation or country refers to the record of every single financial exchange between the residents of the nation and whatever remains of the world in a specific period (over a fourth of a year or all the more normally finished a year). These exchanges are made by people, firms and government bodies. Accordingly the balance of payments incorporates all outside unmistakable and non-obvious exchanges of a nation. It is a critical issue to be contemplated, particularly in worldwide money related administration field, for a couple of reasons.