For each of the items below, determine if it is an import, an export, income, or
ID: 1219378 • Letter: F
Question
For each of the items below, determine if it is an import, an export, income, or a transfer. Place each item in the corresponding bin. Assume that the United States is the domestic country. Jim, an NYU student, studied abroad at the University of Barcelona this summer. While there, he worked part-time at the college's bookstore. Rhode Island-based Joe's Lobster Shack hires Villagebank (a London investment bank) to handle its initial public offering (IPO). Dennis lives and works in San Diego. He uses his holiday bonus to buy an Italian handbag for his wife. Svetlana works at Coke headquarters in Atlanta. She sends 10% of her salary to her parents in Bulgaria. Ohio Tech University pays $30 million in stipends to its international students. Nancy is a U.S. citizen. She earned S800 in dividends last year from her investment portfolio of European shipping companies. Scotland send $50 million to help the New Jersey Hurricane Relief Program. Chicago-based Boeing, sells 12 new aircraft to Beijing Airlines.Explanation / Answer
Goods and services purchased from abroad or from other countries are referred to as imports.
Goods and services sold to abroad or to other countries are referred to as exports.
Earnings made from investment made by residents of domestic country to other countries are referred to as income received from abroad.
Earnings made from investment made by residents of other countries to domestic country are referred to as income paid to abroad.
Payments in return of which no goods or services are obtained is referred to as transfers.
Following is the complete table -
Import Export Income Transfer Dennis lives and work in San Diego. He uses his holiday bonus to buy an Italian handbag for his wife. Chicago-based Boeing, sells 12 new aircraft to Beijing Airlines. Jim, an NYU student, studied abroad at the University of Barcelona this summer. While there, he worked part-time at the college's bookstore. Scotland send $50 million to help the New Jersey Hurricane Relief Program. Rhode Island-based Joe's Lobster Shack hires Villagebank (a London investment bank) to handle its initial public offering (IPO). Nancy is a U.S. citizen. She earned $800 in dividends last year from her investment portfolio of European shipping companies. Svetlana works at Coke headquarters in Atlanta. She sends 10% of her salary to her parents in Bulgaria. Ohio Tech University pays $30 million in stipends to its international students.Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.