Suppose that the U.S. government sells old warships worth $300 million to Japan, and Japans government pays
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Suppose that the U.S. government sells old warships worth $300 million to Japan, and Japan’s government pays for them with its official holdings of dollar assets. How is this transaction recorded in the U.S. balance-of-payment accounts?
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Related Book For 
Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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