Using the data calculate the balance on current account for this economy. The va

Question

Using the data calculate the balance on current account for this economy. The value of the current account is: $ Balance Round your solution to the nearest whole number and be sure to include a negative sign if necessary. - 600 Current Account Value Exports of Goods $600 Imports of Goods 1200 Balance of Trade Exports of Services 350 Imports of Services -300 Balance of Services Income Received on 400 Investments Income Payments on -900 Investments Net Income on Investments Net Transfers 50 - 500 -100

Explanation / Answer

The current account will include the balance of trade which is -600. It will also include the balance of services which is 50. It will also include net transfers of -100. The value of the current account is thus -600+50-100= -650.

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