1. Currency inflows (payments by residents of any other country to U.S. residents) are recorded as debits in the U.S. BOP.

TRUE

FALSE.

2. The sale of computers to Argentina is a credit in the U.S. current account.

TRUE

FALSE.

3. The purchase of clothing from China is a debit in the U.S. current account.

TRUE

FALSE.

4. The current international monetary system requires all countries to fix their exchange rates in terms of the U.S. dollar.

TRUE

FALSE.