1. Boeing imports jet engines produced by Rolls-Royce for $40 million. Boeing makes payment by transferring the funds to a New Your bank account kept by Rolls-Royce. Boeing’s import/payment will be recorded as a________ in the current account, which will be matched by a _______in the capital account from the deposit of the funds by Rolls-Royce.
A. Debit: Credit
B. Debit: Debit
C. Credit: Debit
D. Credit: Credit
2. US importers of steel from China would likely ______ a decrease in US tariffs imposed on steel imports from China. US manufactures of steel would likely _______ a reduction in US tariffs imposed on steel imports from China.
A. Benefit from; Benefit from;
B. Be hurt by: Benefit from
C. Benefit from; be hurt by
D. Be hurt by; be hurt by