aq17ap - [ of a service; Mick Jagger is not a US resident]...

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17 April Identify each of the following as either an Export [ X ] or Import [ M ] of the US in the US Balance of Payments current account [or neither – leave that letter out]: a. Your friend’s father buys a BMW manufactured in Alabama; Neither. Made in Alabama, so part of US GDP. b. Your friend’s uncle buys a Mercedes manufactured in Germany; Import c. This Summer, you buy a T shirt in Italy and bring it home; Import d. A group of Chinese tourists buy tickets from Northwest airlines to visit Orlando; Export [ of a service; Northwest is a US company] e. Mick Jagger buys insurance for the Stones’ concert tour from a New York broker; Export
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Unformatted text preview: [ of a service; Mick Jagger is not a US resident] f. CNN pays Al-Jazeera for a video feed of events in Iraq; Import [of a service; Al-Jazeera is based in Qatar, not the US] g. The US Government contracts with a Kuwaiti firm to transport water and food into Iraq; Import [of a service; paying a foreign company for transport services] h. An FSU faculty member buys a ticket on Malaysian Airlines to visit Dhaka; Import [of a service; paying a foreign company for transport services] i. The US Government ships MRE’s to Kuwait to feed prisoners of war. Export [the MRE’s are made in the US, and being shipped abroad]....
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This note was uploaded on 05/22/2011 for the course ECO 2013 taught by Professor Denslow during the Spring '05 term at University of Florida.

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