The table below shows Sophies financial details for 2016. Answer the following questions about her balance of
Question:
The table below shows Sophie’s financial details for 2016. Answer the following questions about her “balance of payments.”
a. What is Sophie’s “trade balance”? Explain.
b. What is Sophie’s overall current account balance? Explain.
c. What is Sophie’s capital account balance? Explain.
d. There is one (and only one) piece of information shown above that is not needed to compute Sophie’s balance of payments. What is it? Explain why it is not needed.
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Answer Explanation a Sophies trade balance refers to the balance of her income and expenditure related to economic activities such as lifeguarding lawn mowing expenditure on coffee and pastry tuition ...View the full answer
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I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
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