GLOBE

Problem Set 5-1


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1. Use the information below from the 1997 US national income accounts to calculate the following. (Assume the balance on income and unilateral transfers was zero)

A. the current account balance

B. the merchandise trade balance

C. the service balance

D. the capital account balance

E. the government budget balance

US National Income Statistics - 1997
(billions)
Gross Domestic Product
$ 8080
Exports of Goods and Services $ 957
Merchandise Exports
$ 686
Imports of Goods and Services
$ 1058
Merchandise Imports
$ 888
Private Saving
$ 1164
Investment
$ 1242

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Last Updated on 1/8/04