Consider the following balance of payments data for Australia (in $ million). Exports of goods and services30 000Imports of goods and services29 000Net income–3500Net current transfers–1200Net capital transfers0Net acquisition/disposal of non-produced, non-financial assets0Foreign investment in Australia43 000Foreign investment abroad39 300 Based on the information in the table, Australia's balance on goods and services is:

Discuss THREE trends in Australia’ s balance of payments performance inrecent years

Select all that applyWhich of the following are the majority of items included in the balance of payments?Multiple select question.International purchasesExports and imports of goodsInternational sales of financial and real assetsGross private domestic investmentExports and imports of servicesDomestic consumption

The table below shows components of GDP taken from the Australian national accounts. Component of GDP$billionsInvestment Imports170Indirect taxes80Consumption600Government spending180Compensation of Employees (wages)650Exports180Gross operating surplus340 Suppose the estimate of GDP is the same using the income and the expenditure approaches. Using this information calculate the level of GDP and deduce the amount of investment, in billions of dollars.Group of answer choicesGDP is $990 and investment was $200GDP is $910 and investment was $120GDP is $1070 and investment was $280None of the other answers

What is recorded by the the current account of the balance of payments?Group of answer choicesthe net export of currants.the trade in goods and services, and flows of income from investmentsexports of innovative and fashionable products.the inflow and outflow of capital.

Current AccountWhich of the following would not appear under the current account in the balance of payments?Export and import of servicesExport and import of goodsCapital payments