Describe how each of the following transactions affects the U. S. Balance of Payments. (Recall that each transaction gives rise to two entries in the Balance-of-Payments Accounts.)
(a) An American university buys several park benches from Spain and pays with a $120,000 check.
(b) Floyd Townsend, of Tampa Florida, buys 5,000.00 dollars worth of British Airlines stock from Citibank New York, paying with U. S. dollars.
(c) A French consumer imports American blue jeans and pays with a check drawn on a U. S. bank in New York.
(d) An American company sells a subsidiary in the United States and with the proceeds buys a French company.
(e) A group of American friends travels to Costa Rica and rents a vacation home for $2,500. They pay with a U. S. credit card.
(f) The United States sends medicine, blankets, tents, and nonperishable food worth 400 million dollars to victims of an earthquake in a foreign country.
(g) A billionaire from Russia enters the United States on an immigrant visa (that is, upon entering the United States she becomes a permanent resident of the United States.) Her wealth in Russia is estimated to be about 2 billion U. S. dollars.
(h) The United States forgives debt of $500,000 to Nicaragua
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Describe how each of the following transactions affects the U. S. Balance of Payments. (Recall that...
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