Question 1 The table below illustrates some modified and incomplete Balance of Payments data from Qatar. Balance of Payments, in millions of USD 2016 CURRENT ACCOUNT -8,325 Net Export of Goods and Services 33,000 CAPITAL ACCOUNT 0 ERRORS AND OMISSIONS AFA - AFL a. 1. Is the current account balance a stock variable or a flow variable? There is no need to explain. 2. What was the numerical value of the sum of the Qatari net primary income and net secondary income over 2016? Show how you derive your result. 3. Is the table sufficient to predict whether the Qatari stock of net foreign assets really increased or decreased over 2016? Explain. 4. Provide four different interpretations for the Qatari current account balance (referring for example, to S, I or to GNDI and absorptions and so on). Suppose that the Qatari government purchases $2B worth of food from abroad in exchange for $1B worth of Qatari-produced natural gas and $1B worth of U.S. treasury bills owned by the Qatari sovereign wealth fund. b. Record these transactions in the Qatari CA, AFA, AFL