The Table Shows a Balance of Payments Statement for Transylvania

True/False

$$\begin{array} { | l | c | } \hline \text { (1) Goods Exports } & + \$ 15 \\\hline \text { (2) Goods Imports } & - 17 \\\hline \text { (3) Service Exports } & + 5 \\\hline \text { (4) Service Imports } & - 2 \\\hline \text { (5) Net Investment Income } & - 5 \\\hline \text { (6) Net Transfers } & + 4 \\\hline \text { (7) Foreign Purchases of Assets } & + 5 \\\hline \text { (8) Purchases of Foreign Assets } & - 11 \\\hline \text { (9) Balance on Capital Account } & + 1 \\\hline\end{array}$$ The table shows a balance of payments statement for Transylvania. All ?gures are in billions of
dollars. Transylvania was a net recipient of transfers from the rest of the world for the year.