#2 BOP question: In 2010 the country of Ikonomia has a current account deficit of $1 billion and a nonreserve financial account surplus of $750 million. Ikonomia's capital account is zero. In addition, Ikonomian factors located in foreign countries earn $700 million. Ikonomia has a trade deficit of $800 million. Assume Ikonomia neither gives nor receives unilateral transfers. Ikonomia's GDP is $9 billion, and that there is no change in the prices of its assets or liabilities or exchange rate. a. What happened to Ikonomia's net foreign assets during 2010? Did it acquire or lose foreign assets during the year? b. Calculate the official settlements balance. Based on this number, what happened to the central bank's (foreign) reserves? c. How much income did foreign factors of production earn in Ikonomia during 2010? d. Calculate NFIA. e. Using the identity BOP = CA + FA + KA, show that BOP = 0. f. Calculate Ikonomia's GNE, GNI, and GNDI