uestion 15 (1 point) (Table: Balance of Payments). The country's balance of payments on current account is: Exports of goods and services $1,425 billion Imports of goods and services 1,800 billion Income receipts from abroad 420 billion Income transfers to foreigners 400 billion Transfers 0 $355 billion. -$395 billion. $375 billion. -$355 billion.
Added by Stephen P.
Close
Step 1
Step 1: The current account balance is calculated as: Current Account Balance = (Exports of goods and services - Imports of goods and services) + (Income receipts from abroad - Income transfers to foreigners) + Transfers Show more…
Show all steps
Your feedback will help us improve your experience
Anand Jangid and 93 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
The accompanying table contains hypothetical data for the U.S. balance of payments in a year. All figures are in billions of dollars. The balance on the current account was a Multiple Choice $51 billion surplus. $92 billion deficit. $22 billion surplus. $82 billion deficit.
Anand J.
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.
Jennifer S.
The current account for a fictitious country is shown in the table below. The balance on the capital and financial account for this country is -$12 billion. CURRENT ACCOUNT (in billions of dollars) (1) Goods exports: 655 (2) Goods imports: (3) Balance on goods: 27 (4) Exports of services: (5) Imports of services: -263 (6) Balance on services: (7) Balance on goods and services: (8) Net investment income: -10 (9) Net transfers: 32 (10) Balance on current account: b. The country has a current account (Click to select)
Akash M.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
100,000+
Students learning Economics with Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD
