2. Accounting for trade in goods and services Suppose the following transactions occur during the current year: 1. Darne

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2 Accounting For Trade In Goods And Services Suppose The Following Transactions Occur During The Current Year 1 Darne 1 (22.06 KiB) Viewed 18 times

2. Accounting for trade in goods and services Suppose the following transactions occur during the current year: 1. Darnell orders 40 cases of mescal from a Mexican distributor at a price of $90 per case. 2. A U.S. company sells 200 spark plugs to a Korean company at $5.00 per spark plug. 3. Jacques, 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 "o" 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)