Discuss the importance of the balance of payments as an accounting measure.

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Discuss the importance of the balance of payments as an accounting measure.
Discuss the current account and its components and the capital and financial accounts and their components.
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
Balance of Payments
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For assistance with your assignment, please use your text, Web resources, and all course materials.

References

Hellerstein, R., & Tille, C. (2008, June). The changing nature of the U.S. balance of payments. Current Issues in Economics and Finance, 14(4). Federal Reserve Bank of New York. https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci14-4.pdf

Stein, H. (2008). Balance of payments. The Library of Economics and Liberty. http://www.econlib.org/library/Enc/BalanceofPayments.html

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