The following are hypothetical data for the U.S. balance of payments. Use the data to calculate each of the following (assume credit balances):
a. Merchandise trade balance
b. Balance on goods and services
c. Balance on current account
d. Financial account balance
e. Statistical discrepancy
Billions of Dollars
Merchandise exports………………………. 350.0
Merchandise imports………………………. 2,425.0
Service exports…………………………….. 2,145.0
Service imports…………………………….. 170.0
Net income and net transfers……………… 221.5
Outflow of U.S. capital…………………… 245.0
Inflow of foreign capital………………….. 100.0