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Complete the following table by selecting the correct value for each missing entry. Balance of Payments Current Accounts (Billions of dollars) Canadian merchandise exports +85

Complete the following table by selecting the correct value for each missing entry. Balance of Payments Current Accounts (Billions of dollars) Canadian merchandise exports +85 Canadian merchandise imports -71 Merchandise trade balance Canadian service exports +35 Canadian service imports Services balance Goods and services balance Net investment income from abroad Net unilateral transfers Current account balance Financial Accounts Change in Canadian-owned assets abroad -48 Change in foreign-owned assets in Canada +40 Financial account balance Statistical discrepancy Net balance -10 +4 +10 0 Suppose an Argentine citizen alves money to his brother in Canada. This would be entered as a item un Suppose an Argentine citizen gives money to his brother in Canada. This would be entered as a section of the Canadian current account. According to the table, Canada is running a trade: in goods and services. item under the The current account balance suggests that Canadian current account transactions (exports and imports of goods and services and inflows and outflows the inpayments of foreign of investment income and transfers) created outpayments of foreign currencies from Canada that were currences to Canada Any surplus or deficit in one account must be offset by deficits or surpluses in other balance of payments accounts. Because the current account is im the excess of Canadian currency held by foreigners must either be loaned to Canadians or used to buy Canadian stucks or bonds. All of these transactions are then recorded in the account. Since any imbalance in one account automatically leads to an equal, but opposite, imbalance in the other, the balance of payments is always

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