The table gives some information about U.S. international transactions in a year.
Item Billions of U.S. dollars
Imports of goods and services …………………………2,561
Foreign investment in the United States ……………… 955
Exports of goods and services …………………………1,853
U.S. investment abroad ……………………………….. 300
Net interest income ……………………………………. 121
Net transfers …………………………………………… -123
Statistical discrepancy ………………………………… 66
a. Calculate the current account balance.
b. Calculate the capital and financial account balance.
c. Did U.S. official reserves increase or decrease?
d. Was the United States a net borrower or a net lender in 2008? Explain your answer.