How would the following transactions be categorized in the U.S. balance of payments accounts? Would they be
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How would the following transactions be categorized in the U.S. balance of payments accounts? Would they be entered in the current account (as a payment to or from a foreigner) or the financial account (as a sale of assets to or purchase of assets from a foreigner)? How will the balance of payments on the current and financial accounts change?
a. A French importer buys a case of California wine for
$500.
b. An American who works for a French company deposits her paycheck, drawn on a Paris bank, into her San Francisco bank.
c. An American buys a bond from a Japanese company for $10,000.
d. An American charity sends $100,000 to Africa to help local residents buy food after a harvest shortfall.
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The US balance of payments accounts record all transactions between residents of the US and residents of other countries These transactions are catego...View the full answer
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