In the economy of Scottopia in 2008, exports equaled $400 billionof goods and $300
Chapter 8, Problem 3(choose chapter or problem)
In the economy of Scottopia in 2008, exports equaled $400 billionof goods and $300 billion of services, imports equaled$500 billion of goods and $350 billion of services, and the restof the world purchased $250 billion of Scottopias assets. Whatwas the merchandise trade balance for Scottopia? What wasthe balance of payments on the current account in Scottopia?What was the balance of payments on the financial account?What was the value of Scottopias purchases of assets from therest of the world?
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