A Trade Deficit Occurs When

question 141

Multiple Choice

A trade deficit occurs when:

• A) foreign remittances paid are less than foreign remittances received.
• B) exports are less than imports.
• C) exports equal imports.
• D) exports are greater than imports.

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Definitions:

Fraud

Intentional deception made for personal gain or to damage another individual, involving false representation of facts, omission of information, or other deceitful practices.

Illegal Contract

A contract that is void and unenforceable because it involves activities that are against the law.

Quasi-Contract

A legal concept where a court enforces an obligation between parties as if they had entered into a contract, to prevent unjust enrichment.

Pari Delicto

A legal doctrine meaning "in equal fault," used to indicate that two or more parties are equally at fault for a wrong.