In 2020, the economy of Macroland exported $400 billion of goods and $300 billion of services while it imported $500 billion of goods and $350 billion of services. Furthermore, the rest of the world purchased $250 billion of Macroland's assets. (a) Compute Macroland's balance of payment on the current account and the capital account in 2020. (b) What was the value of Macroland's purchases of assets from the rest of the world in 2020?

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 43P: In 2001, the United Kingdoms economy exported goods worth 192 billion and services worth another 77...
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In 2020, the economy of Macroland exported $400 billion of goods and $300 billion of services while it imported $500 billion of goods and $350 billion of services. Furthermore, the rest of the world purchased $250 billion of Macroland's assets. (a) Compute Macroland's balance of payment on the current account and the capital account in 2020. (b) What was the value of Macroland's purchases of assets from the rest of the world in 2020?
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