PLEASE ANSWER ALL THE QUESTIONS AND SHOW EXPLANATION ADN WORKINGS THANK YOUUUUU

Refer to the following three charts, each taken from the Chart Pack of the Reserve Bank of Australia:

a) Define the trade balance, the current account balance and the net income balance, and explain how they are related.

(2 marks)

b) Explain the relationship between the current account balance and net capital inflows.

(0.5 marks)

c) Compare the level of Australia's net foreign liabilities in 2017 with its level in about 2004.

(0.5 marks)

d) What relationship has there been between Australia's current account balance as a share of GDP, and Australia's net foreign liabilities as a share of GDP? Provide a plausible explanation for this relationship.

(2 marks)

e) Distinguish between debt securities and equity securities, providing an example of each. What was Australia's net equity position, with respect to the rest of the world, in September 2017? What was our net debt position?

(2 marks)

f) True or false? "Australia's net debt to the rest of the world is another name for 'the national debt'." Explain your answer.

(1 mark)

g) Australia's net income position has been in deficit for many years. Identify the main reason for this.

(1 mark)

h) If Australia's current account balance is in a deficit of 3% of GDP, and Australia's private sector is accumulating net financial assets worth 1% of GDP, what is the government's fiscal balance? Explain your answer.

(1 mark)