The following table contains hypothetical data for the 2010 U.S. balance of payments. Answer the question on the basis of this information. All figures are in billions of dollars. 1) US Goods Exports +$100 2) US Goods Imports -80 3) US Service Exports +40 4) US Service Imports -90 5) Net Investment Income +20 6) Net Transfers -15 7) Foreign Purchases of Assets in the United States +30 8) US Purchases of Foreign Assets Abroad -10 9) Balance on Capital Account +5 Refer to the above data. Item (5) indicates: that the United States' current account was in surplus. the size of the net inflow of foreign investment to the United States that occurred in 2010. the net amount Americans received as interest and dividends on existing U.S. investments abroad. the net amount Americans paid as interest and dividends on existing foreign investments in the United States. QUESTION 19 Suppose the balance on the financial account is + $200 billion and the balance on the capital account is + $2 billion. The size of the current account is: + $200 billion. - $202 billion. - $198 billion. + $2 billion.
Added by Adriana M.
Close
Step 1
US Goods Exports: +$100 billion Show more…
Show all steps
Your feedback will help us improve your experience
Jennifer Stoner and 91 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
In 2010, a country imported goods worth $500 billion and exported goods worth $443 billion. It exported services worth $248 billion and imported services worth $330 billion. Payments on investments made abroad by U.S. citizens and companies totaled $199 billion, while returns paid to foreigners on investments in the U.S. were $125 billion. Unilateral transfers from the country to other nations amounted to $94 billion. What was the country's current account balance for 2010 in U.S. Dollars? -70 billion -159 billion -142 billion -65 billion
Andrew D.
The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answer the questions. Spending category: education Value (millions): $320 welfare and Social Security: $890 health care: $270 defense: $120 payments on debt: $170* other: $240 *This payment covers total interest owed only. Revenue category: income tax, sales tax Value (millions): income tax: $800 sales tax: $270 corporate tax: $300 social insurance: $340 GDP in 2010: $7.3 billion Total debt as of 2009: $3.5 billion How much money in millions did Littleland need to borrow in 2010 to finance its government spending? What was Littleland's deficit to GDP ratio in 2010? Give your answer to the nearest whole percentage point. At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD