The following tables show a hypothetical balance of payments statement for the United States. (Note: All...

  

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The following tables show a hypothetical balance of payments statement for the United States. (Note: All values are in billions of dollars.) Complete the tables by filling in the missing cells (Hint: Use the negative sign for all debits, and assume that the total balance of payments equals zero.) CURRENT ACCOUNT U.S. Merchandise Exports Merchandise Utmports Balance of Merchandise Trade U.S. Service Exports U.S. Service Imports Balance of Payments Debits Balance on Service Trade Balance on Goods and Services Income Receipts of Americans from Abroad Income Receipts of foreigners in the US Net Income Receipts Net Unilateral Transfers Balance on Current Account -704 -272 Credits 160 520 Balance 20 -640 CAPITAL ACCOUNT Foreign Investment in the U.S. U.S. Investment Abroad Balance on Capital Account Debits Credits 720 -440 Balance OFFICIAL RESERVE TRANSACTIONS U.S. Official Reserve Assets Foreign Official Assets in the U.S. Balance, Official Reserve Account According to the data presented in the preceding tables, there is a merchandise trade Debits Credits 400 Balance billion, The following tables show a hypothetical balance of payments statement for the United States. (Note: All values are in billions of dollars.) Complete the tables by filling in the missing cells (Hint: Use the negative sign for all debits, and assume that the total balance of payments equals zero.) CURRENT ACCOUNT U.S. Merchandise Exports Merchandise Utmports Balance of Merchandise Trade U.S. Service Exports U.S. Service Imports Balance of Payments Debits Balance on Service Trade Balance on Goods and Services Income Receipts of Americans from Abroad Income Receipts of foreigners in the US Net Income Receipts Net Unilateral Transfers Balance on Current Account -704 -272 Credits 160 520 Balance 20 -640 CAPITAL ACCOUNT Foreign Investment in the U.S. U.S. Investment Abroad Balance on Capital Account Debits Credits 720 -440 Balance OFFICIAL RESERVE TRANSACTIONS U.S. Official Reserve Assets Foreign Official Assets in the U.S. Balance, Official Reserve Account According to the data presented in the preceding tables, there is a merchandise trade Debits Credits 400 Balance billion,

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The balance of payments statement is divided into three main accounts Current Account Capital Account and Official Reserve Transactions Each account c... View the full answer