Many residents of the United States send money to relatives living in other countries. For instance, a

Question:

Many residents of the United States send money to relatives living in other countries. For instance, a Salvadoran farmworker who is temporarily working in San Diego, California, sends money back to his family in El Salvador. How are such transactions recorded in the balance of payments? Are they debits or credits?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

Question Posted: