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Billions of Item U.S. dollars Imports of goods and services 2.561 Foreign investment in the United States 955 Exports of goods and services 1.853 U.S.

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Billions of Item U.S. dollars Imports of goods and services 2.561 Foreign investment in the United States 955 Exports of goods and services 1.853 U.S. investment abroad 300 Net interest income 121 Net transfers 123 Statistical discrepancy 66 a. Calculate the current account balance b. Calculate the capital and financial account balance. c. Did U.S. official reserves increase or decrease? d. Was the United States a net borrower or a net lender in 2008? Explain your answer. e. Based on the exchange rates for the first trading days of 2013 and 2014 shown in the accompanying table, did the U.S. dollar appreciate or depreciate during 2014? Did the movement in the value of the U.S. dollar make American goods and services more or less attractive to foreigners

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