Use the information in the following table on Mexico’s 2007 international transactions to answer 1. What is the current account? ### International Trade and Finance DataThis dataset provides an overview of various financial components related to international trade and finance:- **Merchandise exports**: $271,594- **Merchandise imports**: $281,649- **Services exports**: $17,512- **Services imports**: $23,784- **Income receipts**: $7,972- **Income payments**: $26,036- **Unilateral transfers**: $24,197Each category presents the monetary values in thousands, highlighting a snapshot of trade dynamics, service exchanges, income transactions, and transfers.

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

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What is the current account?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Use the information in the following table on Mexico’s 2007 international transactions to answer

1. What is the current account?

### International Trade and Finance Data

This dataset provides an overview of various financial components related to international trade and finance:

- **Merchandise exports**: $271,594
- **Merchandise imports**: $281,649
- **Services exports**: $17,512
- **Services imports**: $23,784
- **Income receipts**: $7,972
- **Income payments**: $26,036
- **Unilateral transfers**: $24,197

Each category presents the monetary values in thousands, highlighting a snapshot of trade dynamics, service exchanges, income transactions, and transfers.

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