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Please show the balance of payments equation. Does the US balance of payments have a deficit or surplus? Please explain. If China has a trade
Please show the balance of payments equation. Does the US balance of payments have a deficit or surplus? Please explain. If China has a trade surplus, then how do they have a deficit in their capital account? If the US had an estimated trade deficit of $379 billion in 2013, please explain in the context of the international macroeconomic model (e.g., what is their GDP v. aggregate demand,...). If Y - Yd > 0, what happens to savings, the trade balance, and the capital account for a country.
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