Consider the balance-of-payments accounting information for FarawayLand as shown in the table below for the year 2018.
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Consider the balance-of-payments accounting information for FarawayLand as shown in the table below for the year 2018. All values are in billions of dollars.
a. What is the trade balance?
b. What is the current account balance?
c. What is the change in FarawayLand’s net foreign assets?
d. What is capital account balance?
e. What is the balance of payments?
f. What exchange-rate regime does FarawayLand likely have? Explain your reasoning.
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