Consider the following hypothetical data for an open economy​ (in millions): Assets owned inside the U.S. by U.S. citizens​ = ​$140 comma 000140,000 Assets owned outside the U.S. by U.S. citizens​ = ​$23 comma 35723,357 Assets owned outside the U.S. by foreign citizens​ = ​$110 comma 000110,000 Assets owned inside the U.S. by foreign citizens​ = ​$22 comma 78622,786 The value of the International Investment Position​ (IIP) of the U.S. is ​$nothing million. ​(Enter your answer as a whole number. Include a minus sign if​ necessary.)

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Answer:

Hypothetical data for an open economy​ (in millions)

Value of International Investment Position (IIP) of the U.S.:

The value of the International Investment Position (IIP) of the U.S. is $23,357 million.

Explanation:

a) Calculation of the IIP:

                                                                               Inside U.S.    Outside U.S.

Assets owned outside the U.S. by U.S. citizens​ = ​ $23,357

Assets owned inside the U.S. by foreign citizens​ = ​                    $22,786

The value of the International Investment Position​ (IIP) of the U.S. is ​$23,357 million

The NIIP (or net IIP) = $571 million ($23,357 million - $22,786 million).

b) The International Investment Position (IIP) is a statistical statement that shows at a point in time the value of financial assets of residents of an economy that are claims on nonresidents and the liabilities of residents of an economy to nonresidents.

c) A net international investment position (NIIP) can be viewed as a nation’s balance sheet with the rest of the world at a specific point in time, in that it measures the gap between a nation’s stock of foreign assets and foreigner's stock of that nation's assets.