Question

After a hurricane devastates New Orleans, a Canadian charity sends $1 million to the U.S. to help the survivors rebuild their homes. In the U.S. balance of payments, this transaction would cause the balance on the _____ account to _____

Answer 1

In the U.S. balance of payments, this transaction would cause the balance on the current account to increase.

What is a current account?

This is a deposit account from which withdrawals are done in the bank through the use of checks.

It is also called a checking account. It helps to take care of frequent deposits as well as withdrawals that are done by cheque.

Read more on current account here: https://brainly.com/question/24848903

#SPJ1