1. How would each of the following transactions show up on the Eurozone balance-of-payments accounts?

(a) Payment of €100 million in welfare benefits to Eurozone citizens living in Costa Rica

(b) A sale of a Picasso by a French owner to a Japanese resident

(c) Tuition receipts of €3 billion received by universities in the Eurozone from students from the Asia-Pacific region

(d) Payment of €1 million to French business consultants CGI by a Nigerian company

(e) Sale of a €1, 000 million Eurobond issue in London by EADS

(

f) Investment of €200 million by Peugeot to build a parts plant in Argentina

(g) Payment of €45 million in dividends to Eurozone residents from foreign companies