Question

Exchange of goods and services between countries is called what?
GPT-4o mini
The exchange of goods and services between countries is called "international trade."
Exports of PNG gold to US raised the value of Kina against the US dollar from $0.30 to $0.40. What is the economic term used to refer to this change?
GPT-4o mini
The economic term used to refer to the increase in the value of Kina against the US dollar is "appreciation." In this case, the Kina has appreciated from $0.30 to $0.40 against the US dollar.
What will be the effect on the overall balance of payment if there is more money leaving than entering the economy? Answer in one short sentence.
GPT-4o mini
If more money is leaving than entering the economy, it will result in a negative balance of payments.
Negative as in balance of payment deficit or balance of payment surplus?
GPT-4o mini
Negative in this context refers to a balance of payments deficit.