A Middle East nation suddenly discovers huge oil resources. Show how its balance of trade and current

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A Middle East nation suddenly discovers huge oil resources. Show how its balance of trade and current account suddenly tum to surplus. Show how it can acquire assets in New York as a financial-account offset.
Later, when it uses the assets for domestic capital investment, show how its current and financial items reverse their roles.
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Economics

ISBN: ?978-0073511290

19th edition

Authors: Paul A. Samuelson, William Nordhaus

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