Question
The table below shows Arcadia's balance-of-payments accounts in millions of dollars. Receipts Payments Balance Current Account Merchandise Trade 147.2 57.2 Trade in Services 76.3 88.7
The table below shows Arcadia's balance-of-payments accounts in millions of dollars.
Receipts | Payments | Balance | |
Current Account | |||
Merchandise Trade | 147.2 | 57.2 | |
Trade in Services | 76.3 | 88.7 | |
Investment Income | 44.2 | 38.7 | |
Employee Compensation | 6.2 | 9.8 | |
Transfers | 12.3 | 25.6 | |
Capital and Financial Accounts | |||
Capital Account | 6.9 | 7.5 | |
Financial Account | |||
Direct Investment | 36.4 | 47.7 | |
Portfolio Investment | 27.2 | 20.2 | |
Other Financial Investments | 16.6 | 10.3 |
a. Fill in the above table. Enter your responses rounded to 1 decimal place. For balance-of-payments deficits and surpluses do not enter positive or minus signs. For the balance of trade and changes in official reserves do enter a minus (-) sign in front of any negative value responses.
b. There is a (Click to select) deficit surplus of $ million on Arcadia's current account.
There is a (Click to select) deficit surplus of $ million on Arcadia's capital and financial accounts.
c. If the statistical discrepancy in Arcadia's balance of payments accounts is $2.3 million, Arcadia is running a balance of payments (Click to select) deficit surplus of $ million.
d. The change in official reserves that appears in Arcadia's balance of payments accounts is $ million, which shows that Arcadia's central bank (Click to select) bought sold Arcadia's own currency and (Click to select) bought sold foreign currency in order to keep (Click to select) down up the value of Arcadia's currency.
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