Given Below Are the Current Account Transactions of an Economy

Essay

Given below are the current account transactions of an economy in a year:
i)Exported goods and services worth $120 billion
ii)Imported goods worth $200 billion
iii)Revenue earned from manufacturing plants situated abroad worth $80 billion
iv)Dividend paid to foreign investors worth $10 billion
v)Donations and disaster relief funds given to a foreign country worth $10 billion
vi)"Gifts" received from foreign donors toward poverty alleviation worth $5 billion
a)Calculate the economy's trade balance.
b)What will be the balance in the economy's current account?