1. Discovering Data Go the BEA website (bea.gov). Find the latest annual balance of payments data for the United States.

a. Compute income earned on (1) external assets and (2) income paid on external liabilities.

b. Find the latest net international investment position data for the United States. Compute (3)

external assets and (4) external liabilities for the end of the prior year.

c. Divide (1) by (3) and then divide (2) by (4) to find the implied rates of interest on external assets and liabilities. Is the United States still privileged?