Explain how the following transactions would be entered into the US balance of payments: (a) Macys purchases
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Question:
Explain how the following transactions would be entered into the US balance of payments:
(a) Macys purchases of $20,000 of wool socks from Australia.
(b) An US citizen opens a $1,000 bank account in Switzerland.
(c) A German citizen pays $600 for her weekend stay at a Hotel in San Francisco
(d) A US citizen receives a $2,500 dividend payment on the shares that he owns of BMW, a German company.
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