To answer this question, you must obtain data from the Bureau of Economic Analysis (BEA),http://www.bea.gov, on the U.S. balance of payments (BOP) tables. You can either usetheinteractivetables or the "US International Transactions" pre-formatted tables released onDecember 15, 2016, (link). Obtain the following annual data forUnited Statesin 2015

.1. Based on table 1.1, what is the trade balance (TB) for goods, services, and total?

2. Based on table 1.1, whatisthe net factor income from abroad (NFIA), netunilateraltransfers(NUT), and the current account (CA)?

3. Based on table 1.2, what is the most important component of net factor receiptsfromabroadand net factor payments abroad?

4. Based on table 1.1., what is the balance of the financial account (FA) as defined inthetextbook?

5. Based on table 1.1., what is the component that accounts for the largest increaseinforeignassets owned by the United States (abstracting from "other investment assets")?What is the component that accounts for the largest increase in liabilities owed bytheUnited States?3

6. Based on table 1.1., explain how the balance of payments identity (CA+FA+Capitalaccount=0) is satisfied after the statistical discrepancy adjustment.

7. Download "Table 1.1. U.S. Net International Investment Position at the End of thePeriod", from the BEA website.Plotin one figure the total U.S. Assets,Liabilities,andNet Investment Position (or External wealth) between 1976 and 2015 (at anannualfrequency).