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If Canadian exports of goods and services are $40 billion, imports of goods and services are $35 billion, transfers by Canadians to foreigners are $2 billion, and transfers from foreigners to Canadian citizens are $1 billion, then the current account balance is A. +$6 billion B. -$6 billion C. -$7 billion D. +$4 billion E. -$4 billion

If Canadian exports of goods and services are $40 billion, imports of goods and services are $35 billion, transfers by Canadians to foreigners are $2 billion, and transfers from foreigners to Canadian citizens are $1 billion, then the current account balance is A. +$6 billion B. -$6 billion C. -$7 billion D. +$4 billion E. -$4 billion

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter6: Managing In The Global Economy
Section: Chapter Questions
Problem 1E
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If Canadian exports of goods and services are $40 billion, imports of goods and services are $35 billion, transfers by Canadians to foreigners are $2 billion, and transfers from foreigners to Canadian citizens are $1 billion, then the current account balance is A. +$6 billion B. -$6 billion C. -$7 billion D. +$4 billion E. -$4 billion
Transcribed Image Text:If Canadian exports of goods and services are $40 billion, imports of goods and services are $35 billion, transfers by Canadians to foreigners are $2 billion, and transfers from foreigners to Canadian citizens are $1 billion, then the current account balance is A. +$6 billion B. -$6 billion C. -$7 billion D. +$4 billion E. -$4 billion
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