For the past year, a country has ($200) million of exports of goods and services, ($160) million
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For the past year, a country has \($200\) million of exports of goods and services, \($160\) million of imports of goods and services, \($60\) million of income received from foreigners, and −\($40\) million of net unilateral transfers. What is the range of values for income paid to foreigners, so that each of the following would be true?
a. The country has a current account surplus.
b. The country has a deficit for its goods and services balance.
c. The country is a net borrower from the rest of the world.
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a The current account balance is exports of goods and services minus imports of good...View the full answer
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