In 2010 the country of Ikonomia has a current account deficit of $2 billion and a non-reserve financial account surplus of $750 million. Ikonomia's capital account is in a $500 million surplus. In addition, Ikonomian factors located in foreign countries earn $900 million. Ikonomia has a trade deficit of $1 billion. Assume Ikonomia neither gives nor receives unilateral transfers. Ikonomia's GDP is $10 billion.
a. What happened to Ikonomia's net foreign assets during 2010? Did it acquire or lose foreign assets during the year?
b. Calculate the official settlements balance. Based on this number, what happened to the central bank's (foreign) reserves?
c. How much income did foreign factors of production earn in Ikonomia during 2010?
d. Calculate NFIA.
e. Calculate Ikonomia's GNE, GNI, and GNDI.