Final answer:
Lexi should exclude natural resources when calculating the balance of payments since this measure includes transactions like foreign aid, foreign investments, and tourist expenditures, but not the intrinsic value of natural resources. The export of natural resources would be recorded when it involves an international sale.
Step-by-step explanation:
When Lexi is hired to calculate her country's balance of payments, she should not include natural resources in this calculation. This is because the balance of payments consists of transactions such as foreign aid, foreign investments, and money spent by tourists, which are exchanges involving the cross-border movement of goods, services, or capital. Unilateral transfers, including economic or military assistance, are also included as they represent financial assistance without a direct good or service received in return.
Natural resources, while valuable assets to a nation, are not accounted for in the balance of payments until they are part of an international transaction. For instance, the export of natural resources would be included under the current account balance when those goods are actually sold internationally.
In contrast, unilateral transfers, such as foreign assistance and payments to international charities, are treated like imports because they involve streams of payments leaving the country. In 1991, unilateral transfers for the U.S. were positive due to international contributions towards U.S. military expenses during the Gulf War.