In one year the United States had a current account deficit of $461 billion. The balance on the capital account was −$8 billion. What was the balance on the financial account?

A) −$461 billion
B) +$469 billion
C) −$469 billion
D) +$453 billion

Current Account Deficit

A measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.

Capital Account

A national account that records transactions involving the purchase and sale of assets, including real estate, stocks, bonds, and businesses, between residents and non-residents.

Financial Account

Part of the balance of payments, recording transactions that involve financial assets and liabilities between domestic and foreign entities.