Okay, these are general categories. I didn't mention that there's also a capital account which we're not going to worry about in this course because it's usually very, very small for most countries. But what I'd like to do here is just think about, practically, some transactions that we might encounter and have you try to think where they would go on the balance of payments. So I'm going to give you a moment to respond. I'd like you to think about those categories. If you've got them written down, that would be a good thing too. I've got the current account with its three parts: the trade, the primary, the secondary income. And I've got the financial account with its parts: direct investment, net direct investment, net portfolio investment. We've got bank and non-bank claims and liabilities, official settlements, and then errors and omissions, which we're not going to talk about here. So let me just give you some examples of transactions between a nation and the rest of the world. And we're going be thinking about the United States, and I want you to think where they would go on the balance of payments. The first one is U.S. aid to Ethiopia. Now obviously U.S. aid to Ethiopia is a one-way transaction. So we would put it on the U.S. current account, and we would put it under secondary income where we have the transfers. Okay, it would be a debit for the United States, for Ethiopia it would be a credit as it means money flowing in. The export of cars to Canada, U.S. cars to Canada. Okay, thinking about this transaction, obviously it goes into the trade account. All right, the United States is exporting the cars to Canada. Therefore, for the United States, it is a credit, for Canada which is importing them, it's a debit. All right, the Chinese purchase of U.S. bonds. And let's let these be long-term bonds. Okay, China is investing in the United States. So this goes onto the financial account. And this would go into, since they're long-term bonds, it would go into net direct investment. It would be a plus for the United States because the money is flowing in, a minus for China. The import of avocados by the United States from Mexico. Well, clearly this goes onto the trade account. Okay, the United States is importing from Mexico, so it's a negative for the United States in merchandise trade, a positive for Mexico because it leads to a flow of income to Mexico. The Saudi purchase of a U.S. port. Okay, here Saudi Arabia is buying a U.S. asset. This would be net direct investment because the money is flowing into the United States to buy something long term. Okay, plus for the United States, minus for Saudi Arabia. Returns on U.S. investments in Korea. Okay, these are earnings on the stock of direct investment that the U.S. has in Korea or portfolio investment, doesn't matter. It's an earning that goes to the United States. It would go under primary income. It would be a plus for the United States and a minus for Korea.