The balance of payments (BOP) is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a year. Carefully evaluate the USA balance of payments published by the USA Federal Reserve for the year of 2007, and then answer the following questions: USA Balance of Payments (2007) in millions of dollars Credit 1,148,481 497,245 1 Exports and imports of goods 2 Exports and imports of Services 3 Balance of Trade (1+2) 4 Investment income 5 Transfers (net) 6 Current account (3+4+5) 7 8 9 Discrepancies A. Write a proposal of a formula to calculate the balance of trade Financial (Capital) account Change in reserves at the Federal Reserve 817,779 2,062,355 B. Explain validation of the structure of the balance of payments C. Describe your Assessment to the status of services balance Debit 1,967,853 -819,372 378,130 119,115 -700,257 81,748 -112,705 -731,214 736,031 112,705 Net 1,289,732 122 41,287 D. Demonstrate a critique of the status of the current financial account 731,214

The balance of payments (BOP) is a statement of all transactions made between entities in one country and the rost of the world over a defined period of time, such as a year. Carefolly evaluate the USA balance of payments published by the USA Federal Reserve for the year of 2007 , and then amswer the following questions: A. Write a proposal of a formula to earcuiate the valance ve asme B. Explain validation of the structure of the balance of payments C. Describe your Assessment to the status of services balance D. Demonstrate a critique of the status of the current financial account