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Answer the Question on the Basis of the Following 2008

question 55

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Answer the question on the basis of the following 2008 balance of payments statement for Transylvania.All figures are in billions of dollars.  1) Goods Exports 2) Goods Imports 3) Service Exports 4) Service Imports 5) Net Investment Income 6) Net Transfers 7) Foreign Purchases of Assets 8) Purchases of Foreign Assets 9) Balance on Capital Account+$1517+525+4+511+1\begin{array}{c}\begin{array}{lll}\text { 1) Goods Exports}\\\text { 2) Goods Imports}\\\text { 3) Service Exports}\\\text { 4) Service Imports}\\\text { 5) Net Investment Income}\\\text { 6) Net Transfers}\\\text { 7) Foreign Purchases of Assets}\\\text { 8) Purchases of Foreign Assets}\\\text { 9) Balance on Capital Account}\end{array}\begin{array}{r}+\$ 15 \\-17 \\+5 \\-2 \\-5 \\+4 \\+5 \\-11 \\+1\end{array}\end{array}

Refer to the given data.Transylvania realized a financial and capital account deficit in 2008.


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