A New Yorker travels to New Jersey to buy a $100 telephone answering machine. The New Jersey
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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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Related Book For 
International Finance: Theory And Policy
ISBN: 9781292065199
10th Edition
Authors: Krugman, Paul R.; Melitz, Marc J.; Obstfeld, Maurice
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