Solved

(Table: Balance of Payments) Which of These Is(are) True I the Current Account Balance Is Equal to -$700 Billion

Question 69

Multiple Choice

(Table: Balance of Payments) Which of these is(are) true?  Balance of Payments (billions of U.S. dollars)   Component  Amount  Exports $1,900 Imports 2,500 Income received 500 Income payments 500 Net transfers 100 Increase in foreign-owned  assets in U.S. 850 Increase in U.S.-owned  assets abroad 150\begin{array}{l}\text { Balance of Payments (billions of U.S. dollars) }\\\begin{array} { l c } \hline \text { Component } & \text { Amount } \\\text { Exports } & \$ 1,900 \\\text { Imports } & 2,500 \\\text { Income received } & 500 \\\text { Income payments } & 500 \\\text { Net transfers } & - 100 \\\text { Increase in foreign-owned } & \\\text { assets in U.S. } & 850 \\\text { Increase in U.S.-owned } & \\\text { assets abroad } & 150\end{array}\end{array} I. The current account balance is equal to -$700 billion. II. The capital account balance is equal to $700 billion.
III) The statistical discrepancy must equal $100 billion.


A) I only
B) II only
C) I and II only
D) II and III only

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents