Balance of Payments:
The following are hypothetical data for the U.S. balance of payments. Use the data to calculate each of the following:
a. Merchandise trade balance
b. Balance on goods and services
c. Balance on current account
d. Financial account balance
e. Statistical discrepancy
Billions of Dollars
Merchandise exports 350.0
Merchandise imports 2,425.0
Service exports 2,145.0
Service imports 170
Net income and net transfers 221.5
Change in U.S. - owned assets abroad 245.0
Change in foreign - owned assets in U.S. 100.0