1.(8 marks)

Suppose a country is represented by a household. The basic: Only two members, You and Xiaomi. You are the authority, who can issue the currency RMB. RMB is used for domestic transaction. At the end of 2019, the whole household has some Foreign asset (stock), 10 kg Gold, and some Foreign liability (stock), 4000 RMB.

The exchange rate is 1kg Gold=500 RMB.

What is the net foreign asset by the end of 2019? ______

During 2020, the national income account shows that CA= -3kg Gold. What is the net foreign asset by the end of 2020? ______

If Xiaomi increases the position of Gold by 0.4 kg Gold (The non-official reserve part)

What is the balance of official settlement? ______