Refer to Table 18-1. Use the information in the table to prepare a balance of payments account and find the value of the statistical discrepancy. Assume that the balance on the capital account is zero
What will be an ideal response?
CURRENT ACCOUNT
Exports of goods $925
Imports of goods -1,211
Balance of trade -286
Exports of services 623
Imports of services -456
Balance of services 167
Income received on investments 502
Income payments on investments -444
Net income on investments 58
Net transfers -77
Balance on current account -138
FINANCIAL ACCOUNT
Increase in foreign holdings of assets in the United States
2,560
Increase in U.S. holdings of assets in foreign countries
-2,478
Balance on financial account 82
BALANCE ON CAPITAL ACCOUNT 0
Statistical discrepancy 56
Balance of payments 0
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