Search for ‘Balance of Payments Analytic Presentation by Country’ online and select the US.

a For the most recent year comment on the meaning of the balances (note that for more detail on the classifications consult the internet for the Balance of Payments and International Investment Position Manual, currently in its 6th edition).

b Convert the data into a column for debits and a column for credits (left and right respectively, hint: negative assets are credits and negative liabilities are debits. Balances are credits less debits) and see that you agree with the balances.

c Comment on the meaning of the credits and debits.

d Briefly comment on the overall structure of the three elements of the balance of payments.