Answer the question on the basis of the following balance of payments data for the hypothetical nation of Econland. All figures are in billions of dollars. (1) Goods exports +$220
(2) Goods imports -328
(3) Exports of services +54
(4) Imports of services -55
(5) Net investment income +18
(6) Net transfers -11
(7) Capital account -1
(8) Foreign purchases of Econland assets +124
(9) Econland purchases of foreign assets -21
Refer to the table above. Econland's balance of trade in goods and services shows a:
A) Net inflow of payments of $109 billion
B) Net outflow of payments of $109 billion
C) Net inflow of payments of $108 billion
D) Net outflow of payments of $108 billion
Correct Answer:
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