Alpha's balance-of-payments data are shown below. All figures are in billions of dollars. Alpha's Balance of Payments
Question:
Alpha's balance-of-payments data are shown below. All figures are in billions of dollars.
Alpha's Balance of Payments Data | |
---|---|
Merchandise exports | 400 |
Service imports | 30 |
Net Unilateral transfers | 15 |
Net Change in foreign assets at home (financial efforts) | 355 |
Merchandise imports | 600 |
Service exports | 80 |
Net change in domestic liabilities abroad (financial outflows) | -220 |
The balance of trade is ?$ billion. ?(Enter your response as a whole number and include a minus sign if? necessary.
During any designated? period, all payments and gifts that are related to the purchase or sale of both goods and services constitute the current account in international trade. Major types of current account transactions include the exchange of? merchandise, the exchange of? services, and unilateral transfers.
Balance on current account? = (merchandise exports ? merchandise ?imports) +? (service exports ? service? imports) + net unilateral transfers.
The balance on the current account is ?$ billion. ?(Enter your response as a whole number and include a minus sign if? necessary.)
I need to see the formulas on how the answers were determined, please.
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken