Use the information in the following table on Mexico’s 2007 international transactions to answer 1. What is the current account? Merchandise exportsMerchandise importsServices exportsServices importsIncome receiptsIncome paymentsUnilateral transfers$ 271,594$ 281,649$ 17,512$ 23,784$ 7,972$ 26,036$ 24,197

The formula for calculating current account is given below. Current account=Balance of Trade +…

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What is the current account?

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter18: International Trade And Finance

Section: Chapter Questions

Problem 7SQ

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Question

Use the information in the following table on Mexico’s 2007 international transactions to answer

1. What is the current account?

Merchandise exports
Merchandise imports
Services exports
Services imports
Income receipts
Income payments
Unilateral transfers
$ 271,594
$ 281,649
$ 17,512
$ 23,784
$ 7,972
$ 26,036
$ 24,197

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