Item Imports of goods and services Foreign investment in the United States Exports of goods and services U.S. investment abroad Net interest income Net transfers Statistical discrepancy Billions of U.S. dollars 2,561 955 1,853 300 121 -123 66 a. Calculate the current account balance b. Calculate the capital and financial account balance. C. Did U.S. official reserves increase or decrease? d. Was the United States a net borrower or a net lender in 2008? Explain your answer.

Item Imports of goods and services Foreign investment in the United States Exports of goods and services U.S. investment abroad Net interest income Net transfers Statistical discrepancy Billions of U.S. dollars 2,561 955 1,853 300 121 -123 66 a. Calculate the current account balance b. Calculate the capital and financial account balance. C. Did U.S. official reserves increase or decrease? d. Was the United States a net borrower or a net lender in 2008? Explain your answer.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Open-economy Macroeconomics: Basic Concepts

Section: Chapter Questions

Problem 8PA

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Similar questions

Why does the trade balance and the current account balance track so closely together over time?
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