Recall from Question 5 in this homework the table showing a hypothetical current

Question

Recall from Question 5 in this homework the table showing a hypothetical current account statement for the United States: Debits (S, billions) Current account entry U.S. Goods Exports Credits (S, billions) +300 S. Goods Imports S. Service Exports S. Service Imports 240 +252 204 Income Receipts from Abroad Income Payments to Foreigners Unilateral Current Transfers, Net +390 369 -498 Given these data, the current account balance is billion. S0 $369 +$369 S538 A Moving to another question will save this resp+$647 Question 6 of 8

Explanation / Answer

Answer.) -$369

Current account balance = ( +$300 - $240 +$252 - $204 + $390 - $369 - $498 ) =-$369

therefore, its a current account deficit.

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