(1) Goods exports +$220 (2) Goods imports −328 (3) Exports of services +54 (4) Imports of services −55 (5) Net investment income +18 (6) Net transfers −11 (7) Capital account −1 (8) Foreign purchases of Econland assets +124 (9) Econland purchases of foreign assets −21     The table contains balance of payments data for the hypothetical nation Econland . All figures are in billions of dollars. There was a   Multiple Choice   trade deficit but a current account surplus.   trade surplus but a current account deficit.   trade surplus and a current account surplus.   trade deficit and a current account deficit.

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A: The balance of payments (BOP) of a country is a record of every financial transaction that occurred…

Q: What is the current account?

A: The formula for calculating current account is given below. Current account=Balance of Trade +…

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A: Home CountryCd = 400 + 0.5(Y-T) - 100rwId = 300 - 100rwY = 2000T = 250G = 300Foreign CountryCd = 200…

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A: Since you have posted multiple questions, as per guidelines we can solve only first question

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