State whether it would enter as credit or debit

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Reference no: EM131102730

Look at each of the following cases from the point of view of the balance of payments for the United States. Determine the "subcategory" of the current account or financial account that each transaction would be classified in, and state whether it would enter as a credit or debit.

(a) The U.S. government sells gold for dollars.

(b) A migrant worker in California sends $500 home to his village in Mexico.

(d) A firm in Nebraska buys car parts from a subsidiary in Canada.

(e) An American church donates five tons of rice to Nepal to help with earthquake relief.

(f) An American retired couple flies from Phoenix to Tokyo on Japan Airlines.

(g) The Swiss government sells Swiss franc to the United States Treasury and buys dollars

Reference no: EM131102730

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