Based on the following information, what is the balance of the financial account? Exports of goods and services = $12 billion
Imports of goods and services = $14 billion
Net income on investments = -$4 billion
Net transfers = -$1 billion
Increase in foreign holdings of assets in Canada = $5 billion
Increase in Canadian holdings of assets in foreign countries = -$3 billion
A) $8 billion
B) $2 billion
C) $1 billion
D) -$1 billion
E) -$2 billion
Correct Answer:
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