13. In 2001, the United Kingdom's economy exported g0ods worth £192 billion and services worth another £77 billion. It imported goods worth £225 billion and services worth £66 billion. Receipts of income from abroad were £140 billion while income payments going abroad were £131 billion. Government transfers from the United Kingdom to the rest of the world were £23 billion, while various U.K government agencies received payments of £16 billion from the rest of the world. figit for
13. In 2001, the United Kingdom's economy exported g0ods worth £192 billion and services worth another £77 billion. It imported goods worth £225 billion and services worth £66 billion. Receipts of income from abroad were £140 billion while income payments going abroad were £131 billion. Government transfers from the United Kingdom to the rest of the world were £23 billion, while various U.K government agencies received payments of £16 billion from the rest of the world. figit for
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
How do you calculate balance?
![13. In 2001, the United Kingdom's economy exported
g0ods worth £192 billion and services worth another
£77 billion. It imported goods worth £225 billion and
services worth £66 billion. Receipts of income from
abroad were £140 billion while income payments going
abroad were £131 billion. Government transfers from
the United Kingdom to the rest of the world were £23
billion, while various U.K government agencies
received payments of £16 billion from the rest of the
world.
figit for](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F41c8c4c3-40eb-4e8a-ad4d-25bcd12caa95%2Ff59eea6c-a369-4f32-a968-fa320f381604%2F7mj8zya_reoriented.jpeg&w=3840&q=75)
Transcribed Image Text:13. In 2001, the United Kingdom's economy exported
g0ods worth £192 billion and services worth another
£77 billion. It imported goods worth £225 billion and
services worth £66 billion. Receipts of income from
abroad were £140 billion while income payments going
abroad were £131 billion. Government transfers from
the United Kingdom to the rest of the world were £23
billion, while various U.K government agencies
received payments of £16 billion from the rest of the
world.
figit for
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