Question

Alpha's balance-of-payments data are shown below. All figures are in billions of dollars.

Alpha's Balance of Payments Data
Merchandise exports	400
Service imports	30
Net Unilateral transfers	15
Net Change in foreign assets at home (financial efforts)	355
Merchandise imports	600
Service exports	80
Net change in domestic liabilities abroad (financial outflows)	-220

The balance of trade is ​$ billion. ​(Enter your response as a whole number and include a minus sign if​ necessary.

During any designated​ period, all payments and gifts that are related to the purchase or sale of both goods and services constitute the current account in international trade. Major types of current account transactions include the exchange of​ merchandise, the exchange of​ services, and unilateral transfers.

Balance on current account​ = (merchandise exports − merchandise ​imports) +​ (service exports − service​ imports) + net unilateral transfers.

The balance on the current account is ​$ billion. ​(Enter your response as a whole number and include a minus sign if​ necessary.)

I need to see the formulas on how the answers were determined, please.

Answer 1

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