Consider the Following Annual Transactions in Canada's Current Account

question 38

Multiple Choice

Consider the following annual transactions in Canada's current account.If Canadian exports of goods and services are $40 billion,imports of goods and services are $35 billion,transfers by Canadians to foreigners are $2 billion and transfers from foreigners to Canadian citizens are $1 billion,then the current account balance is

• A)+ $6 billion.
• B)+ $4 billion.
• C)- $4 billion.
• D)- $6 billion.
• E)- $7 billion

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