Answer the Next Five Questions on the Basis of the Following

question 29

Essay

Answer the next five questions on the basis of the following hypothetical data for a hypothetical nation Economia.All numbers are in billions of dollars.Assume that there is no Statistical Discrepancy. (a) What is the balance of trade? (b) What is the balance on goods and services? (c) What is the balance on the current account? (d) What is the balance on the capital account? (e) What official reserves will be needed to settle the balance of payment accounts?

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Definitions:

Emissions

The release of substances (usually gases or particulates) into the environment, often referring to pollutants released into the air by vehicles and industrial processes.

Marginal Social Benefits

The additional benefit that society gains from consuming one more unit of a good or service.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service, including both private costs and any external costs.

Pollution Emissions

The release of pollutants into the air, water, or soil by industrial processes or other human activities.