Suppose Canada accepted relatively more number of immigrants, and as a result, relatively more money transfers were made from Canada to foreign countries where the immigrants are from. How would this event affect the Canadian Balance of Payments
Suppose Canada accepted relatively more number of immigrants, and as a result, relatively more money transfers were made from Canada to foreign countries where the immigrants are from. How would this event affect the Canadian Balance of Payments?
The balance of payment is the difference between the payments into the economy and the payments out from the economy over a period of time. There are two different concepts such as the Balance of Payment (BOP) surplus and Balance of Payment deficit. The BOP surplus is the situation in which the economy experiences a higher quantity of cash flow into the economy compared to the cash flow out of the economy. The BOP deficit is the situation in which the cash outflows from the economy are higher than the cash inflows to the economy.
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