(a) Using the given data, calculate the merchandise trade balance . Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Question

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Answer 1

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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a) Assume there are two firms, 1 and 2, competing as Cournot duopolists in a market, selling a homogeneous product. Demand is given by p = 36 – (q1 + q2), where p is price and q1 and q2 are the outputs of firms 1 and 2 respectively. Each firm faces a marginal cost of 6 per unit of output and no fixed cost. Find each firm’s optimal output, the price at which they sell, each firm’s profit , and consumer surplus. b) Now assume that the firms face the same costs, but horizontally differentiate their product, so that firm 1 faces demand p1 = 36 – (q1 + q2/2) and firm 2 faces demand p2 = 36 – (q1/2 + q2). Assume Cournot competition. Calculate the new equilibrium prices and outputs for each firm, consumer surplus and profits. c) Now assume that rather than facing a given degree of product differentiation, the firms can choosehowdifferentiatedtheirproductsare.Thisisequivalenttoinversedemandequationsp1 =36 –(q1 +θq2)andp2 =36–(θq1 +q2),0≤θ≤1,withθdeterminedbythefirms’choicesofproduct…

Assume there are two firms, 1 and 2, competing as Cournot duopolists in a market, selling a homogeneous product. Demand is given by p = 36 – (q1 + q2), where p is price and q1 and q2 are the outputs of firms 1 and 2 respectively. Each firm faces a marginal cost of 6 per unit of output and no fixed cost. Find each firm’s optimal output, the price at which they sell, each firm’s profit , and consumer surplus.

What is the relationship between the humanities and self identity

Answer 2

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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Answer 3

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

Answer 6

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

Answer 7

Chapter 20, Problem 1P

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 8

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

Answer 9

Expert Solution

Answer 10

Expert Solution

Answer 11

Expert Solution

Answer 12

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

Answer 13

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 14

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

Answer 15

Expert Solution

Answer 16

Expert Solution

Answer 17

Expert Solution

Answer 18

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

Answer 19

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 20

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

Answer 21

Expert Solution

Answer 22

Expert Solution

Answer 23

Expert Solution

Answer 24

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

Answer 25

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 26

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

Answer 27

Expert Solution

Answer 28

Expert Solution

Answer 29

Expert Solution

Answer 30

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

Answer 31

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 32

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

Answer 33

Expert Solution

Answer 34

Expert Solution

Answer 35

Expert Solution

Answer 36

Ch. 20 - Prob. 1P Ch. 20 - Prob. 2P Ch. 20 - Prob. 3P Ch. 20 - Prob. 4P Ch. 20 - Prob. 5P Ch. 20 - Prob. 6P Ch. 20 - Prob. 7P

(a) Using the given data, calculate the merchandise trade balance . Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Concept explainers

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

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Chapter 20 Solutions

(a) Using the given data, calculate the merchandise trade balance . Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Concept explainers

(a) Using the given data, calculate the merchandise trade balance. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(b) The balance on goods and services. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(c) Using the given data, calculate the balance on current account. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(d) Using the given data, calculate the financial account balance. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(e) Using the given data, calculate the statistical discrepancy. Concept Introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

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Chapter 20 Solutions

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.