When Is a Balance of Payments Account Out of Balance

question 153

Multiple Choice

When is a balance of payments account out of balance?

• A)only when exports are greater than imports
• B)only when imports are greater than exports
• C)when exports are either greater or less than imports
• D)only when exports are greater or less than imports over a sustained period
• E)never

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Definitions:

Legality

The state or condition of being in accordance with the law; adherence to and conformity with legal statutes, rules, and standards.

Consideration

The benefit, interest, right, or value given to one party in exchange for some act or promise in a contract.

Intent to be Bound

A party's clear expression or indication through words or actions that they agree to be legally obligated by the terms of a contract or agreement.

Paralegals

Professionals trained in legal matters who assist lawyers in their work, but are not licensed to practice law themselves.