Antarctica uses a system of fixed exchange rates, its current account deficit is USD 6 billion, and
Question:
Antarctica uses a system of fixed exchange rates, its current account deficit is USD 6 billion, and its capital account balance is USD 4 billion.
Based on this information, answer the following questions.
(a) What is the change in the official foreign exchange reserves of Antarctica?
(b) What is the gap between the income of Antarctica and its expenditure on domestic output?
(c) If there is only one other country in the world, Greenland, can you estimate the current account balance of Greenland?
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CA USD 6 billion KA USD 4 billion a RFX CA KA USD 6 b...View the full answer
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