Question

In: Economics

Which of the following would be recorded in the U.S. goods export account? a. A machine...

Which of the following would be recorded in the U.S. goods export account?

a.

A machine shop in Ohio purchases a grinder made in New Jersey.

b.

Martha receives a $50 dividend check on stock she owns in a business in Germany.

c.

Harry, an American citizen, spends 1,000 francs on vacation in the south of France.

d.

France purchases a new jet fighter aircraft from the Boeing Company in the United States.

Solutions

Expert Solution

Answer is d i.e. France purchases a new jet fighter aircraft from the Boeing Company in the United States

Explanation

Case -I A machine shop in Ohio purchases a grinder made in New Jersey

Both Ohio and New Jersey are the part of United States. Thus this transaction is not recorded in United Stated export account since no exports of goods or services are made by the United States.

Case -II Martha receives a $50 dividend check on stock she owns in a business in Germany.

It is an investment income. So no tangible good (or service) is exported (or provided) from (or by) United States to a foreign country (Germany).

Case -III   Harry, an American citizen, spends 1,000 francs on vacation in the south of France

It is an expenditure that is made outside the US. No tangible good (or service) is exported (or provided) from (or by) United States to a foreign country (France) in this case also.

Case-IV France purchases a new jet fighter aircraft from the Boeing Company in the United States.

This is recorded in export account of the United States (US) since a tangible good i.e. jet fighter aircraft is being exported from United States to a foreign country i.e. France.

Rahul Sunny answered 1 year ago
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