The United States’ total international transactions with other countries in 2005 were: U.S. balance on current account: - $748.7 billion Financial inflows : + $1295.2 billion Financial outflows : - $532.6 billion Was the current account in surplus or deficit? Was the capital account in surplus or deficit? Was the overall BOP in surplus or deficit? Please only answer C.) C.) Did the government official reserve transactions account show an increase or decrease of its foreign currency holdings

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter14: A Macroeconomic Theory Of The Open Economy
Section: Chapter Questions
Problem 5PA
icon
Related questions
Question

The United States’ total international transactions with other countries in 2005 were:

U.S. balance on current account: - $748.7 billion
Financial inflows : + $1295.2 billion
Financial outflows : - $532.6 billion

Was the current account in surplus or deficit?
Was the capital account in surplus or deficit?
Was the overall BOP in surplus or deficit?

Please only answer C.)
C.) Did the government official reserve transactions account show an increase or decrease of its foreign currency holdings

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Assets
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics, 7th Edition (MindTap Cou…
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:
9781285165912
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning