Question: PROBLEM SOLVING: During 2020 the following were the only autonomous transactions that took place between the U.S. and the rest of the world. 1. Japanese
PROBLEM SOLVING: During 2020 the following were the only autonomous transactions that took place between the U.S. and the rest of the world. 1. Japanese bought a hotel in Florida for $40m. 2. Americans bought $35m worth of Saudi oil. 3. Italians invested $90m in U.S. Certificates of Deposit 4. Americans invested $15m in British stocks. 5. The Russians bought $50m worth of U.S. wheat. 6. Americans bought a factory in Korea for $85m. 7. The U.S. gave Egypt $20m in foreign aid. 8. American Banks paid $28m in interests to German investors. 9. A French firm bought $60m worth of US commercial paper. O. U.S. software engineers received $30m in consulting fees from India. 1. American invested $25m in German money markets. 2. Dell sold $45m computer hardware equipment to Brazil. Based on these transactions, obtain the balances indicated in question What was the balance on Current Account for the US in 2020? $60m -$18m $42m $26m
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