Read the following statements carefully:
Statement 1: Economic territory and political frontier of a nation are one and the same thing.
Statement 2: American Embassy in India is a part of the economic territory of India.
In the light of the given statements, choose the correct alternative from the following:
Statement 1: Incorrect. A country's economic territory encompasses its political borders but excludes foreign diplomatic enclaves within those borders.
Statement 2: Incorrect. The United States Embassy in India is classified as part of the United States' economic territory, not India's.
“As per the National Stock Exchange (NSE) data, dated 9th June, 2023, there was a net selling off worth ₹ 309 crore by Foreign Institutional Investors (FIIs) over the period of one month i.e., 9th May, 2023 – 9th June, 2023.” The above-mentioned transactions will be recorded on ______ side of ______ account of Balance of Payments of India.
Suppose, the Balance of Trade of an imaginary economy shows a favorable balance of ₹ 500 crore. The values of merchandise exports are ₹ 1200 crore and transfer payments are ₹ 400 crore. The value of merchandise imports would be ₹ ______ .