Question 20.22

12. In the economy of Popania in 2014, total Popanian purchases of assets in the rest of the world equaled $300 billion, purchases of Popanian assets by the rest of the world equaled $400 billion, and Popania exported goods and services equal to $350 billion. What was Popania’s balance of payments on financial account in 2014? What was its balance of payments on current account? What was the value of its imports?

October 1, 2013 October 1, 2014
US$1.62 to buy 1 British pound sterling US$1.62 to buy 1 British pound sterling
29.51 Taiwan dollars to buy US$1 30.43 Taiwan dollars to buy US$1
US$0.97 to buy 1 Canadian dollar US$0.89 to buy 1 Canadian dollar
98.04 Japanese yen to buy US$1 109.31 Japanese yen to buy US$1
US$1.35 to buy 1 euro US$1.26 to buy 1 euro
0.91 Swiss franc to buy US$1 0.96 Swiss franc to buy US$1