An economy, Delta exported goods worth $30 billion and services worth another $10 billion in 2020. It imported goods worth $40 billion and services worth $8 billion. Receipts of income from abroad were $20 billion while income payments going abroad were $18 billion. Government transfers from Delta to the rest of the world were $7 billion, while various Delta government agencies received payments of $3 billion from the rest of the world. Calculate Delta merchandise trade deficit, and current account balance for 2020. A) $10 billion, -$12 billion B) $10 billion, $12 billion C) -$10 billion, $10 billion - Incorrect D) -$12 billion, $10 billion
An economy, Delta exported goods worth $30 billion and services worth another $10 billion in 2020. It imported goods worth $40 billion and services worth $8 billion. Receipts of income from abroad were $20 billion while income payments going abroad were $18 billion. Government transfers from Delta to the rest of the world were $7 billion, while various Delta government agencies received payments of $3 billion from the rest of the world. Calculate Delta merchandise trade deficit, and current account balance for 2020. A) $10 billion, -$12 billion B) $10 billion, $12 billion C) -$10 billion, $10 billion - Incorrect D) -$12 billion, $10 billion
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 43P: In 2001, the United Kingdoms economy exported goods worth 192 billion and services worth another 77...
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An economy, Delta exported goods worth $30 billion and services worth another $10 billion in 2020. It imported goods worth $40 billion and services worth $8 billion. Receipts of income from abroad were $20 billion while income payments going abroad were $18 billion. Government transfers from Delta to the rest of the world were $7 billion, while various Delta government agencies received payments of $3 billion from the rest of the world. Calculate Delta merchandise trade deficit , and current account balance for 2020.
A) $10 billion, -$12 billion
B) $10 billion, $12 billion
C) -$10 billion, $10 billion - Incorrect
D) -$12 billion, $10 billion
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