Q2. (10 pt) In the following table of Balance of Payments (Turkey, 2015), fill in the...

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Q2. (10 pt) In the following table of Balance of Payments (Turkey, 2015), fill in the blank cells marked x. Then, answer the questions that follow below: 2015 (million USD) A- CURRENT ACCOUNT 1. Exports 151.970 2. Imports 200.084 Balance on Goods X 3. Services: Credit 46.480 4. Services: Debit 22.272 Balance on Goods and Services -23.906 5. Primary Income: Credit 4.471 6. Primary Income: Debit 14.113 Balance on Goods, Services and Primary Income -33.548 Secondary Income CAPITAL & FINANCIAL ACCOUNT (borrowing net of lending) Direct Investment: Net acquisition of financial assets 7. 1.430 B&C. 10.089 8. 5.095 9. Direct Investment: Net incurrence of liabilities 17.550 10. Portfolio Investment: Net acquisition of financial assets 6.129 11. Portfolio Invesment: Net incurrence of liabilities -9.590 11.1. Equity Securities -2.395 11.2. Debt Securities -7.195 12. Other Investment: Net acquisition of financial assets 14.963 12.1. Central Bank 12.2. General Government -238 12.3. Banks 15.152 12.4. Other Sectors 49 13. Other Investment: Net incurrence of liabilities 28.337 13.1. Central Bank -674 13.2. General Government -1.186 13.3. Banks 18.695 13.4. Other Sectors 11.502 Current, Capital and Financial Accounts x D. NET ERRORS AND OMISSIONS GENERAL BALANCE 11.83 Е. RESERVE ASSETS -11.831 14. Official Reserves 15. Credit and loans with the IMF 16. Exceptional Financing a. Did Turkey run a trade deficit or a trade surplus in 2015? b. What is the amount of the net errors and omissions in 2015 in the Turkish BoP accounts? Why do you think this errors and omissions account is as large as it is? с. What does it mean to have a positive financial and capital account balance as above? Q2. (10 pt) In the following table of Balance of Payments (Turkey, 2015), fill in the blank cells marked x. Then, answer the questions that follow below: 2015 (million USD) A- CURRENT ACCOUNT 1. Exports 151.970 2. Imports 200.084 Balance on Goods X 3. Services: Credit 46.480 4. Services: Debit 22.272 Balance on Goods and Services -23.906 5. Primary Income: Credit 4.471 6. Primary Income: Debit 14.113 Balance on Goods, Services and Primary Income -33.548 Secondary Income CAPITAL & FINANCIAL ACCOUNT (borrowing net of lending) Direct Investment: Net acquisition of financial assets 7. 1.430 B&C. 10.089 8. 5.095 9. Direct Investment: Net incurrence of liabilities 17.550 10. Portfolio Investment: Net acquisition of financial assets 6.129 11. Portfolio Invesment: Net incurrence of liabilities -9.590 11.1. Equity Securities -2.395 11.2. Debt Securities -7.195 12. Other Investment: Net acquisition of financial assets 14.963 12.1. Central Bank 12.2. General Government -238 12.3. Banks 15.152 12.4. Other Sectors 49 13. Other Investment: Net incurrence of liabilities 28.337 13.1. Central Bank -674 13.2. General Government -1.186 13.3. Banks 18.695 13.4. Other Sectors 11.502 Current, Capital and Financial Accounts x D. NET ERRORS AND OMISSIONS GENERAL BALANCE 11.83 Е. RESERVE ASSETS -11.831 14. Official Reserves 15. Credit and loans with the IMF 16. Exceptional Financing a. Did Turkey run a trade deficit or a trade surplus in 2015? b. What is the amount of the net errors and omissions in 2015 in the Turkish BoP accounts? Why do you think this errors and omissions account is as large as it is? с. What does it mean to have a positive financial and capital account balance as above?

Answer rating: 100% (QA)

2 In this case all the individual components or accounts of the Balance of PaymentsBOP in Turkey is given for the year 2015 First with reference to the current account the balance of trade in this cas... View the full answer