The following table shows the value of credits and debits in four balance-of-payments accounts in the fictional economy of Ghalha. Balance-of-Payments Account Debits (Billions of dollars) Credits (Billions of dollars) Merchandise Services 70 35 30 10 Income Receipts 30 30 Unilateral Transfers 55 30 Total 185 105 Based on the total values of Ghalha's debits and credits, there is Ghalha. This means that Ghalha has a deficit in the money flowing out of Ghalha to foreign countries than there is flowing into account. Complete the following table based on the credits and debits presented in the previous table. Term Balance of Trade Net Exports How to Calculate Size of Deficit or Surplus Deficit or Surplus (Billions of dollars)

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter23: The International Trade And Capital Flows
Section: Chapter Questions
Problem 6SCQ: The GDP for the United States is 18,036 billion and its current account balance is 484 billion. What...
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The following table shows the value of credits and debits in four balance-of-payments accounts in the fictional economy of Ghalha.
Balance-of-Payments Account
Debits
(Billions of dollars)
Credits
(Billions of dollars)
Merchandise
Services
70
35
30
10
Income Receipts
30
30
Unilateral Transfers
55
30
Total
185
105
Based on the total values of Ghalha's debits and credits, there is
Ghalha. This means that Ghalha has a deficit in the
money flowing out of Ghalha to foreign countries than there is flowing into
account.
Complete the following table based on the credits and debits presented in the previous table.
Term
Balance of Trade
Net Exports
How to Calculate
Size of Deficit or Surplus
Deficit or Surplus
(Billions of dollars)
Transcribed Image Text:The following table shows the value of credits and debits in four balance-of-payments accounts in the fictional economy of Ghalha. Balance-of-Payments Account Debits (Billions of dollars) Credits (Billions of dollars) Merchandise Services 70 35 30 10 Income Receipts 30 30 Unilateral Transfers 55 30 Total 185 105 Based on the total values of Ghalha's debits and credits, there is Ghalha. This means that Ghalha has a deficit in the money flowing out of Ghalha to foreign countries than there is flowing into account. Complete the following table based on the credits and debits presented in the previous table. Term Balance of Trade Net Exports How to Calculate Size of Deficit or Surplus Deficit or Surplus (Billions of dollars)
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