1)Give examples for countries with persistently current account deficit and current account surplus.

---

2)Here are the subcomponents of the balance of payments account: current account, capital account, financial account, and official reserve account. Place the following transactions into one of those subcomponents and provide a brief justification:

a) A Turkey-based firm, ENKA, constructs a highway in Pakistan

b) The Turkish subsidiary of a Spanish bank BBVA, Garanti, pays profits back to its parent firm in Bilboa