Classify the following transactions in the German balance of Payments: a. A U.S. tourist travels to Frankfurt and spends ?1,000 on bratwurst and beer. He pays with a check drawn on a Tulsa, Oklahoma,

Classify the following transactions in the German balance of Payments: a. A U.S. tourist travels to Frankfurt and spends ?1,000 on bratwurst and beer. He pays with a check drawn on a Tulsa, Oklahoma, bank. b. Mercedes-Benz sells ?400,000 of its cars to a U.S distributor, allowing 90 days’ trade credit until payment is due. c. Herr Schmidt in Bonn, Germany sends his grandson in New York ?10 as a high school graduation present. d. A resident in Sun City, Arizona, receives a ?4,000 dividend check from a German corporation and deposits it in a local bank. e. The U.S. Treasury buys ?10,000,000 worth of German government bonds paid for with a deposit in a German bank.   2. What is the net value of the current account?

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