EC140 Lecture Notes - Lecture 19: Canadian Dollar, Demand Curve, Capital Account
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QUESTION 10
Below is a table for the Balance of Payments of Goegania, a prosperous island nation.
Current Account | Financial Account | |||||
Exports of Goods | $1,940 | Capital Inflow | $661 | |||
Imports of Goods | ??? | Capital Outflow | $347 | |||
Trade Balance | ??? | Financial Account | ??? | |||
Exports of Services | $569 | Capital Account | $0 | |||
Imports of Services | ??? | Statistical Discrepancy | $0 | |||
Services Balance | $16 | Balance of Payments | ??? | |||
Income Received on Investments | $704 | |||||
Income Paid on Investments | $505 | |||||
Net Income on Investments | ??? | |||||
Net Transfers | $-168 | |||||
The balance on the Current Account | ??? |
Given this information, what is the value for the imports of goods?
Sometimes this question generates some weird numbers. Remember that you would always add the values in a category to get the total. So the total for the Financial Account is always Capital Inflow + Capital Outflow and the Trade Balance is always Exports + Imports for this table. It's just that sometimes those values being added are negative. If you get a negative answer, you should enter in the negative.