A.Explain the main implications for a country of having a persistent deficit on the current account of its balance of payments. B.Discuss the causes of Australia’s sustained current account deficit...

A.Explain the main implications for a country of having a persistent deficit on the current account of its balance of payments.                                                                       B.Discuss the causes of Australia’s sustained current account deficit and explain the impacts of a high current account deficit ( CAD ) on the Australian economy.