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Suppose the following transaction takes place. John, an Australian resident, buys $10 million of shares in a company listed on the New York Stock Exchange.
Suppose the following transaction takes place. John, an Australian resident, buys $10 million of shares in a company listed on the New York Stock Exchange. The shares are paid for using money from John's bank account in Australia. For Australia, this counts as a (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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