4. A New Yorker travels to New Jersey to buy a $ 100 telephone answering machine. The...

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4. A New Yorker travels to New Jersey to buy a $ 100 telephone answering machine. The New Jersey company that sells the machine then deposits the $100 check in its account at a New York bank. How would these transactions show up in the balance of payments accounts of New York and New Jersey? What if the New Yorker pays cash for the machine?

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International Economics Theory And Policy

ISBN: 9780321116399

6th Edition

Authors: Paul R. Krugman, Maurice Obstfeld, Marc Melitz

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