For each of the items below, determine if it is an import, an export, income, or a transfer. Assume that the United States is the domestic country. 1. Jim, an NYU student, studied abroad at the University of Barcelona this summer. While there, he worked part-time at the college's bookstore.
2. Rhode Island-based Joe's Lobster Shack hires Villagebank (a London investment bank) to handle its initial public offering (IPO).
3. Dennis lives and works in San Diego. He uses his holiday bonus to buy an Italian handbag for his wife.
4. Svetlana works at Coke headquarters in Atlanta. She sends 10% of her salary to her parents in Bulgaria.
5. Ohio Tech University pays $30 million in stipends to its international students.
6. Nancy is a U. S. citizen. She earned S800 in dividends last year from her investment portfolio of European shipping companies.
7. Scotland send $50 million to help the New Jersey Hurricane Relief Program.
8. Chicago-based Boeing, sells 12 new aircraft to Beijing Airlines.

Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished automobile. because more firms increase competition in the market, the market price falls as more firms enter an automobile market, or specifically, , where n represents the number of firms in a market. assume that the initial size of the u.s. and the european automobile markets are 300 million and 533 million people, respectively.a. calculate the equilibrium number of firms in the u.s. and european automobile markets without trade.b. what is the equilibrium price of automobiles in the united states and europe if the automobile industry is closed to foreign trade? c. now suppose that the united states decides on free trade in automobiles with europe. the trade agreement with the europeans adds 533 million consumers to the automobile market, in addition to the 300 million in the united states. how many automobile firms will there be in the united states and europe combined? what will be the new equilibrium price of automobiles? d. why are prices in the united states different in (c) and (b)? are consumers better off with free trade? in what ways?