Examine the summary of the balance of payments of the United States for 2021. Compute and discuss balance on the financial account and its subaccounts. A Summary of the U.S. Balance of Payments for 2021 (in $ billion) Current Account [1] Exports [1.1] Goods [1.2] Services [2] Imports [2.1] Goods [2.2] Services [3] Primary income [4] Secondary income Balance on current account [[1]+[2]+[3]+[4]] Capital Account Balance on capital account Financial Account (excluding official reserves) [5] Direct investment [6] Portfolio investment [6.1] Equity securities [6.2] Debt securities [6.3] Derivatives, net [7] Other investment Balance on financial account [[5]+[6]+[7]] [3] Statistical discrepancies Overall balance Official Reserve Account Credits $2,717.0 1,738.0 979.0 1,379.9 329.2 3.5 557.2 473.9 -414.1 591.3 296.7 786.4 1,165.2 83.2 Debits -$3,869.7 -2,938.6 -931.1 -1,063.0 -541.9 -1,048.5 -32.0 -28.5 -292.2 13.5 333.4 -319.9 -373.6 -5.0 -83.2

Examine the summary of the balance of payments of the United States for 2021. Compute and discuss balance on the financial account and its subaccounts. A Summary of the U.S. Balance of Payments for 2021 (in $ billion) Current Account [1] Exports [1.1] Goods [1.2] Services [2] Imports [2.1] Goods [2.2] Services [3] Primary income [4] Secondary income Balance on current account [[1]+[2]+[3]+[4]] Capital Account Balance on capital account Financial Account (excluding official reserves) [5] Direct investment [6] Portfolio investment [6.1] Equity securities [6.2] Debt securities [6.3] Derivatives, net [7] Other investment Balance on financial account [[5]+[6]+[7]] [3] Statistical discrepancies Overall balance Official Reserve Account Credits $2,717.0 1,738.0 979.0 1,379.9 329.2 3.5 557.2 473.9 -414.1 591.3 296.7 786.4 1,165.2 83.2 Debits -$3,869.7 -2,938.6 -931.1 -1,063.0 -541.9 -1,048.5 -32.0 -28.5 -292.2 13.5 333.4 -319.9 -373.6 -5.0 -83.2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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