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Questions and Answers
What happens when a company in Panama pays for a U.S. architect to design a factory building?
Which of the following best describes the architect's role in this transaction?
What type of account would this transaction be recorded in?
What effect does this transaction have on the U.S. balance of payments?
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What type of economic activity is represented by this transaction?
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Study Notes
A company in Panama pays for a U.S. achitect to design a factory building. By itself this transaction
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Description
A company in Panama hires a U.S. architect to design a factory building, and pays for the service. This transaction implies exchange of goods or services across international borders.
