3试述经常项目差额的宏观经济含义.docVIP

Chapter 12 Review Questions 1. Fill in the blanks below. i. For a Closed Economy; a. Spending approach Y = + + G b. Income approach Y = + SP + combining (a) and (b) SP - = G - ii. For an Open Economy c. Spending approach Y = + + G + -IM d. Income approach Y = + SP + e. Current Account Definition CA = - combining (c), (d) and (e) SP - = G - + 2. Below is a roster of transactions for the mythical economy of Freedonia. Use this roster of transactions to complete the balance of payments chart which follows, (all transactions are in millions of Freedonian dollars) Description Amount a. Sale of stock in the Freedonian Balloon Company to U.S. investors $8 b. Payment of dividends to Italian shareholders in Freedomnia Balloon Co. $9 c. Purchase of British tea sets $5 d. Purchase of American cowboy hats $8 e. Sale of Freedonian cigars to Belgium $3 f. Sale of Freedonias largest hotel to Japanese investors $14 g. Purchase of IBM stock by several Freedonian investors $10 h. Sale of Freedonian harps to Switzerland $22 i. Purchase of Canadian hockey sticks $5 j. Rental of hotel rooms by German tourists in Freedonia $3 k. Sale of Freedonian croquet mallets to Great Britain $11 1. Purchases of French Francs by Freedonian Central Bank $18 m. Foreign aid to Freedonia from Bolivia $5 n. Purchases of beef from Argentina $4 o. Sale of Freedonian dollars to the U.S. Federal Reserve $8 p. Remittance of dividends to Freedonian shareholders of Chrysler stock $3 q. Purchase of cars from Yugoslavia $12 r. Sale of socks to Australia $6 s. Sale of a large Freedonian farm to a British citizen $2 t. Purchase of restaurant meals in Israel by Freedonian tourists $1 u. Freedonian foreign aid to Mongolia $1 The Freedonia Balance of Payments Account (millions of Freedonia Dollars) Current Account 1. Exports of which: Merchandise Investment Income Received Imports of which: Merchandise Investment Income Paid Ne