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Tourism and Balance of Payments

APMACR-K43CJT

Suppose a citizen of Japan came to the United States and purchased $500 of souvenirs to take back to his kids.

In the United States Balance of Payments, it would be recorded as

A

$500 debit to the Current Account.

B

$500 credit to the Current Account.

C

$500 debit to the Capital Account

D

$500 credit to the Capital Account.

E

\$500 credit to the Current Account and a \$500 debit to the Capital Account.