Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

n 2022, assume the United States exported goods worth $320 billion and services worth $200 billion. It imported goods worth $480 billion and services worth

n 2022, assume the United States exported goods worth $320 billion and services worth $200 billion. It imported goods worth $480 billion and services worth $220 billion. Payments received on investments abroad totaled $180 billion, while returns paid to foreign investors were $150 billion. It sent $40 billion in military aid to Ukraine, and received $10 billion in assistance fighting wild fires throughout the Western states. What was the merchandise trade deficit in this country in 2022? (indicate whether this is a deficit or surplus) What was the current account balance in this country for 2022? (indicate whether this is a deficit or surplus)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Statistics With Applications In R

Authors: Chris P. Tsokos, K.M. Ramachandran

2nd Edition

124171133, 978-0124171138

Students also viewed these Economics questions