Use the following information to answer the questions below. Assume that the capital account is equal to 0.
Net unilateral transfers 250
Exports of goods and services 500
Net increase in the U.S. government's nonreserve foreign assets 30
Net increase in foreign ownership of U.S.-based nonreserve assets 400
Net increase in U.S. private assets abroad 250
Invest income received in the United States 200
Net increase in U.S. ownership of official reserve assets 20
Imports of goods and services 600
Net increase in foreign ownership of U.S.-based reserve assets 100
Investment income paid abroad by the United States 300
1. What is the current account balance?
2. Does the financial account equal the current account?
3. What is the statistical discrepancy?