18 The table below gives the data about Etruria's balance of payments. (All figures are in billions of dollars.)Foreign investment in EtruriaSecondary (transfers) income received from abroadPrimary (investment) income received from abroadImports of goods and servicesExports of goods and servicesSecondary (transfers) income paid abroadEtruria investment abroadPrimary (investment) income paid abroada. What is the value of the balance of trade?$c. What is the balance on the capital account?d. Is there a balance of payments surplus or deficit? How much?(Click to select) of(Click to select)Surplus12< PrevSearch8612b. What is the balance on the current account? Remember to enter a minus (-) sign to indicate negative values.18 of 181215015686627Wext

a. The balance of trade is the difference between a country's exports and its imports. In this case,…

a. What is the value of the balance of trade? $ b. What is the balance on the current account? Remember to enter a minus (-) sign to indicat c. What is the balance on the capital account? d. Is there a balance of payments surplus or deficit? How much?

a. What is the value of the balance of trade? $ b. What is the balance on the current account? Remember to enter a minus (-) sign to indicat c. What is the balance on the capital account? d. Is there a balance of payments surplus or deficit? How much?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter23: The International Trade And Capital Flows

Section: Chapter Questions

Problem 44P: Imagine that the U.S. economy finds itself in the following situation: a government budget deficit...

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Question

The table below gives the data about Etruria's balance of payments. (All figures are in billions of dollars.)
Foreign investment in Etruria
Secondary (transfers) income received from abroad
Primary (investment) income received from abroad
Imports of goods and services
Exports of goods and services
Secondary (transfers) income paid abroad
Etruria investment abroad
Primary (investment) income paid abroad
a. What is the value of the balance of trade?
$
c. What is the balance on the capital account?
d. Is there a balance of payments surplus or deficit? How much?
(Click to select) of
(Click to select)
Surplus
12
< Prev
Search
86
12
b. What is the balance on the current account? Remember to enter a minus (-) sign to indicate negative values.
18 of 18
12
150
156
8
66
27
Wext

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The GDP for the United States is 18,036 billion and its current account balance is 484 billion. What percent of GDP is the current account balance?
The table below gives the data about Etruria's balance of payments. (All figures are in billions of dollars.) Foreign investment in Etruria 82 Secondary (transfers) income received from abroad 13 Primary (investment) income received from abroad 9 Imports of goods and services 148 Exports of goods and services 152 Secondary (transfers) income paid abroad 8 Etruria investment abroad 64 Primary (investment) income paid abroad 25 a. What is the value of the balance of trade? $ b. What is the balance on the current account? Remember to enter a minus (−) sign to indicate negative values. c. What is the balance on the capital account? d. Is there a balance of payments surplus or deficit? How much?
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In 2001, the United Kingdom's economy exported goods worth £192 billion and services worth another £77 billion. It imported goods worth £225 billion and services worth £66 billion. Receipts of income from abroad were £140 billion while income payments going abroad were £131 billion. Government transfers from the United Kingdom to the rest of the world were £23 billion, while various U.K government agencies received payments of £16 billion from the rest of the world. a. Calculate the U.K. merchandise trade deficit for 2001. b. Calculate the current account balance for 2001. c. Explain how you decided whether payments on foreign investment and government transfers counted on the positive or the negative side of the current account balance for the United Kingdom in 2001.
In 2001, the United Kingdom's economy exported goods worth £192 billion and services worth another £77 billion. It imported goods worth £225 billion and services worth £66 billion. Receipts of income from abroad were £140 billion while income payments going abroad were £131 billion. Government transfers from the United Kingdom to the rest of the world were £23 billion, while various U.K government agencies received payments of £16 billion from the rest of the world. Calculate the U.K. merchandise trade deficit for 2001. Calculate the current account balance for 2001.
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