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The Table Contains Balance of Payments Data ++ And -) for the Hypothetical Nation of Zabella

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 Current Account  (1)  Goods Exports +$80 (2)  Goods Imports 70 (3)  Exports of Services +20 (4)  Imports of Services 25 (5)  Net Investment Income +5 (6)  Net Transfers 5 Financial Account  (7)  Foreign Purchases of Assets in the United States +13 (8)  US Purchases of Foreign Assets Abroad 23 Capital Account  (9)  Balance on Capital Account +5\begin{array} { | l | r | } \hline \text { Current Account } & \\\hline \text { (1) Goods Exports } & + \$ 80 \\\hline \text { (2) Goods Imports } & - 70 \\\hline \text { (3) Exports of Services } & + 20 \\\hline \text { (4) Imports of Services } & - 25 \\\hline \text { (5) Net Investment Income } & + 5 \\\hline \text { (6) Net Transfers } & - 5 \\\hline \text { Financial Account } & \\\hline \text { (7) Foreign Purchases of Assets in the United States } & + 13 \\\hline \text { (8) US Purchases of Foreign Assets Abroad } & - 23 \\\hline \text { Capital Account } &\\\hline \text { (9) Balance on Capital Account } & + 5 \\\hline\end{array}
The table contains balance of payments data ( ++ and -) for the hypothetical nation of Zabella. All figures are in billions of dollars. Zabella's balance on goods and services shows a

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Definitions:

Labor Demanded

The total amount of labor that employers are willing to hire at a given wage rate in an economic market.

Collective Bargaining

The negotiation process between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, and other aspects of workers' compensation and rights.

Union Wages

The level of compensation agreed upon through collective bargaining between labor unions and employers, often resulting in higher wages and better benefits for union workers compared to their non-union counterparts.

Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, for the services of an employee.

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