(7pts) Balance of Payments: Explain how thefollowing transactions would be entered into the US balance ofpayments:
(a) Macys purchases of $20,000 of wool socks fromAustralia.
(b) An US citizen opens a $1,000 bank account inSwitzerland.
(c) A German citizen pays $600 for her weekend stay at a Hotelin San Francisco
(d) A US citizen receives a $2,500 dividend payment on theshares that he owns of BMW, a German company.
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