Define Balance of Payments (BOP). (2 marks) B. Use the following data (in billions of dollars for the given year) to cal

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Define Balance of Payments (BOP). (2 marks)
B. Use the following data (in billions of dollars for the given
year) to calculate the: Export of goods 719 Export of services 279
Import of goods 1 145 Import of services 210
i. balance of trade (2 marks)
ii. balance on the current account. Interpret the result. (4
marks)
C. Jamaica has, for many years, been experiencing a deficit on
its current account. Describe TWO (2) factors that could have
contributed to this ongoing problem. (6 marks)
D. Recommend TWO (2) measures the Jamaican government could take
to curb its BOP deficit. (6 marks)