Use the table below to answer the following questions.
Table 25.4.1

-Refer to Table 25.4.1. If Mengia's official settlement balance was in balance every year, for which year or years can you say for sure there was a current account surplus?
A)year 4 only
B)year 2 only
C)years 2 and 3
D)years 1 and 2
E)years 3 and 4

Question

Use the table below to answer the following questions.
Table 25.4.1
 
-Refer to Table 25.4.1. If Mengia's official settlement balance was in balance every year, for which year or years can you say for sure there was a current account surplus?
A)year 4 only 
B)year 2 only 
C)years 2 and 3 
D)years 1 and 2 
E)years 3 and 4

Quizplus · Accepted Answer

A current account surplus occurs when the value of a country's exports of goods and services exceeds the value of its imports of goods and services. In Table 25.4.1, Mengia's official settlement balance was in balance every year, which means that the value of its exports of goods and services was equal to the value of its imports of goods and services. Therefore, the only year in which Mengia can be said to have had a current account surplus is year 4, when its exports of goods and services exceeded its imports of goods and services by 100 million units.

Use the Table Below to Answer the Following Questions