Question: For each of the following transactions, determine whether (a) it will be recorded in the U.S. current account or capital account, and (b) whether the entry will be positive or negative.
a. A resident of the United States buys an airplane ticket to England on Virgin Atlantic Airways, a British company.
b. The government of England buys U.S. Treasury securities. c. A U.S. citizen buys shares of stock in a Chinese corporation.