Ch03_SSol - 2,933 3,032 2,669 2,221 2,373 2,851 Balance on...

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Australia's Current Account Australia’s Current Account. Use the following data from the International Monetary Fund to answer questions 1 through 4. Assumptions (millions of US dollars) 1998 1999 2000 2001 2002 2003 Goods: exports 55,884 56,096 64,052 63,676 65,099 70,577 Goods: imports 61,215 65,857 68,865 61,890 70,530 85,946 Balance on goods -5,331 -9,761 -4,813 1,786 -5,431 -15,369 Services: credit 16,181 17,399 18,677 16,689 17,906 21,205 Services: debit 17,272 18,330 18,388 16,948 18,107 21,638 Balance on services -1,091 -931 289 -259 -201 -433 Income: credit 6,532 7,394 8,984 8,063 8,194 9,457 Income: debit 17,842 18,968 19,516 18,332 19,884 24,245 Balance on income -11,310 -11,574 -10,532 -10,269 -11,690 -14,788 Current transfers: credit 2,651 3,003 2,622 2,242 2,310 2,767 Current transfers: debit
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Unformatted text preview: 2,933 3,032 2,669 2,221 2,373 2,851 Balance on current transfers-282-29-47 21-63-84 Questions 1998 1999 2000 2001 2002 2003 3.1 What is Australia's balance on goods?-5,331-9,761-4,813 1,786-5,431-15,369 (goods exports - goods imports) 3.2 What is Australia's balance on services?-1,091-931 289-259-201-433 (services credit - services debit) 3.3 What is Australia's balance on goods and services?-6,422-10,692-4,524 1,527-5,632-15,802 (balance on goods + balance on services) 3.4 What is Australia's current account balance?-18,014-22,295-15,103-8,721-17,385-30,674 (the sum of the four balances listed above, goods, services, income, and current transfers)...
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This note was uploaded on 07/27/2011 for the course ECON 101 taught by Professor Dr. during the Spring '11 term at Columbia Union.

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