Short Case Scenario 15-1

Short Case Scenario 15-1
John Smith, a Minnesota native, has recently been elected to the U.S. House of Representatives. John, a long-time college professor, was elected on a platform of educational reform. Somehow, John finds himself appointed to the Joint Economic and Financial Services Committees. John is having a hard time understanding the testimony before each committee, but is hesitant to ask too many questions.
-John soon realizes that money does not actually have to flow between two countries when payments are made for global transactions.Explain why.

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If trade between two countries...

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