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Suppose the following transaction takes place. Australian residents, including friends Michelle and Megan, go on overseas holidays to Thailand during winter and spend a total
Suppose the following transaction takes place. Australian residents, including friends Michelle and Megan, go on overseas holidays to Thailand during winter and spend a total of AU$50,000. The Australian residents pay for their holiday by using money deposited in their Australian bank accounts. For Australia, this counts as a Answer: (current account ,capital account or financial account) credit(+), and a Answer (current account ,capital account or financial account) debit(-). This transaction Answer (Raises , reduces , or does not affect) the external wealth of Australia
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