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15 June, 06:40

We have the following data for a hypothetical open economy: GNP = $10 comma 00010,000 Consumption (C) = $8 comma 2008,200 Investment (I) = $1 comma 2001,200 Government Purchases (G) = $1 comma 2001,200 What is the value of the current account balance? $nothing (Enter your answer as an integer. Include a minus sign if necessary ).

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  1. 15 June, 09:05
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    Current account balance. = - $600

    Explanation:

    Given:

    GNP = $10,000

    Consumption (C) = $8,200

    Investment (I) = $1,200

    Government Purchases (G) = $1,200

    Find:

    Current account balance.

    Computation:

    GNP = Consumption (C) + Investment (I) + Government Purchases (G) + Current account balance.

    $10,000 = $8,200 + $1,200 + $1,200 + Current account balance.

    Current account balance. = $10,000 - $10,600

    Current account balance. = - $600
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