1. Use the information in the following table to solve for the value of the stat

Question

1. Use the information in the following table to solve for the value of the statistical discrepancy and organize/prepare the Balance of Payments Account (properly organized and formatted). Assume that the balance on the Capital Account is zero. $1,181 $856 $256 Exports of goods Imports of services Statistical discrepancy Net transfers Exports of services income received on investments Imports of goods Increase In US, holdings of assets In foreign countries Income payments on Investments $60 5325 $392 $1,108 $1,040 315 e4o 5 8 9 backspa

Explanation / Answer

SOLUTION:

CURRENT ACCOUNT Export of goods $856 Import of goods -$1,108 Balance of merchandise Trade -$252 Export of services $325 Import of services -$256 Balance of services $69 Balance of trade on goods and services $183 Income received on investments $392 Income payment on investments -$315 Net primary income $77 Net secondary income -$60 Current account balance -$166 Financial Account Increase in foreign holding of assets $1,181 Increase in holdings of assets in foreign countries -$1,040 Net Capital Flows $141 Statistical discrepancy $25 Balance of Payments $0

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