The balance of payments is 1) the value of goods and services bought and sold in the world market. 2) a summary record of a country's purchases and sales of goods and services in the world market. 3) a summary record of a country's economic transactions with foreign residents and governments. 4) the value of merchandise goods bought and sold in the world market.

The balance of payments is 1) the value of goods and services bought and sold in the world market. 2) a summary record of a country's purchases and sales of goods and services in the world market. 3) a summary record of a country's economic transactions with foreign residents and governments. 4) the value of merchandise goods bought and sold in the world market.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter28: International Trade And Finance

Section: Chapter Questions

Problem 11SQ

See similar textbooks

Similar questions

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.
Which of the following is included in a nation's current account? a) Purchases of foreign assets b) Borrowings from abroad c) Foreign purchases of U.S. financial assets d) Investment income receipts e) Purchases of foreign real property
In 2018, Belize had a GDP of 4 billion Belize dollars, and a population of 400,000 people. The exchange rate was 2 Belize dollars per U.S. dollar. Calculate the GDP per capita of Belize in 2018 as measured in U.S. dollars a. 2,000 USD b. 4,000 USD c. 5,000 USD d. 10,000 USD
What is nation’s current account balance on its balance of payments given the following information? Imports: $206 Exports: $250 Government spending abroad: $33 Direct investment abroad; $34 Foreign purchases of U.S. securities: $33 Net income from investment abroad: $71
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.
Suppose India has a GDP of 196 trillion Indian rupees, and a population of 1.3 billion. The exchange rate is 75 rupees per U.S. dollar. Calculate the GDP per capita of India as measured in U.S. dollars.
Explain purchasing power parity's importance when comparing countries.
Calculating the gross domestic product for various countries using purchasing power parity exchange rate is more reliable as exchange rates fluctuations are included. less reliable as exchange rates fluctuations are included. more reliable as the impact of exchange rates fluctuations is reduced.
suppose Qd=-33*p+608, Qs=20*P+10 for home and Qd*=-33*p+401, Qs*=20*P+35 for foreign. What is the free trade volume to two decimal points?
The capital account balance is a nation's: net investment income minus its net transfers exports of goods and services minus its imports of goods and services sale of real and financial assets to people living abroad minus its purchases of real and financial assets from foreigners domestic investment spending minus domestic saving
Explain a balance of payments for a country.
Which of the following would be a credit item in the UK balance of payments? A) A UK company sells computer software to a company in Spain. B) A UK firm hires a non-UK citizen. C) A UK citizen travels to the USA for a two-week holiday. D) The UK government lends money to a developing country