Discuss the current account and its components and the capital and financial accounts and their components.

One of the more important measures in regard to international economics is the balance of payments. Think of it as a national accounting measure that looks at the flow of goods and services into and out of an economy in a given period of time. It also shows capital flows into and out of a country. Until 1980, the United States tended to run a positive-to-neutral balance of payments position and was a creditor nation. In the course of the past 30 years, the United States has moved to a negative balance of payments and to being a debtor nation.Review and discuss the following: Discuss the importance of the balance of payments as an accounting measure.

How important is the U.S. deficit in traded goods in regard to the balance of payments?Here are some relevant articles to help you with this assignment: The Changing Nature of the U.S. Balance of Payments
https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci14-4.pdf Balance of Payments
http://www.econlib.org/library/Enc/BalanceofPayments.html

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