Accounting for trade in goods and services Suppose the following transactions occur during the current year: 1. Dmitri orders 50 bottles of wine from a French distributor at a price of $30 per bottle. 2. A U.S. company sells 200 textbooks to a Canadian company at $45.00 per textbook. 3. Jake, a U.S. citizen, pays $1,500 for a laptop he orders from Microell (a U.S. company). Complete the following table by indicating how the combined effects of these transactions will be reflected in the U.S. national accounts for the current year. Hint: Be sure to enter a “0” if none of the transactions listed are included in a given category and to enter a minus sign when the balance is negative. Amount (Dollars) Consumption Investment Government Purchases Imports Exports Net Exports Gross Domestic Product (GDP)
2. Accounting for trade in goods and services
Suppose the following transactions occur during the current year:
1.
Dmitri orders 50 bottles of wine from a French distributor at a
2.
A U.S. company sells 200 textbooks to a Canadian company at $45.00 per textbook.
3.
Jake, a U.S. citizen, pays $1,500 for a laptop he orders from Microell (a U.S. company).
Complete the following table by indicating how the combined effects of these transactions will be reflected in the U.S. national accounts for the current year.
Hint: Be sure to enter a “0” if none of the transactions listed are included in a given category and to enter a minus sign when the balance is negative.
Amount
(Dollars)
Consumption
Investment
Government Purchases
Imports
Exports
Net Exports
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