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Chapter 3 Use the following data on Australia from the International Monetary Fund to answer questions 1 and 2.- (millions of US dollars) Goods: exports

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Chapter 3 Use the following data on Australia from the International Monetary Fund to answer questions 1 and 2.- (millions of US dollars) Goods: exports Goods: imports Balance on goods 2010 2011 213,782 271,719 -196,303 -249,2382 17,479 22,481 2012 257,950 -270,136 -12,186 2013 254,180 -249,700 4,480 2014 240,704 -240,252 453 2015 188,3452 -207,658 -19,313 Services: credit Services: debit Balance on services 46,968 -51,3134 -4,345 51,6532 -61,897e -10,2442 53,0342 -65,405e -12,371e 53,550 -67,977e -14,4272 54,240 -63,549 -9,309 49,7164 -57,269 -7,5532 Income: credite Income: debit Balance on income 35,711 -84,646 -48,935 47,852 -102,400 -54,548 47,168 -88,255 -41,087e 46,316 -85,289 -38,9732 46,637 -79,805 -33,168 38,105e -67,842 -29,736 Current transfers: credite Current transfers: debite Balance on current transfers 5,8134 -7,189 -1,376 7,5100 -9,7232 -2,2132 7,271e 9,6352 16,906 7,109 -9,346 -2,2372 6,9624 -8,996 -2,034 5,853 -7,685e -1,832 1. What is Australia's balance on goods and services? 2. What is Australia's current account balance

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