What does IC stand for when you are talking about <span title="economy/imports/exports???">economy/imports/exports??...</span> 10 points best answer!!?

Question

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Answer 1

IMPORT COSTS

&quot;IC&quot; is short-form for &quot;Import Costs&quot; (more commonly called &quot;Import Payments&quot;), which is the money flows from the recipient [country who imports] to the sender [country who exports] to pay for the imports. For example, if the US imports 50 billion barrels of oil from Saudi Arabia, then the US are importing the goods and the Saudi Arabians are exporting the goods. The US must pay Saudi Arabia for the goods, which becomes their import payments.

EXPORT RECEIPTS

Just to clarify the above, the opposite is export receipts, or the money inflow coming from payments for your country&#039;s exports.

NET EXPORTS

This is a component of Net Exports (Export Receipts minus Import Payments), which is turn a component of GDP (Consumption + Investment + Govt. Spending + Net Exports).