If the Official Settlements Account Is Zero, Whenever the United

question 54

True/False

If the official settlements account is zero, whenever the United States has a current account deficit, it must also have a capital account deficit.

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Definitions:

State Law

Legislation enacted by a state government that is applicable within the boundaries of that state.

Commerce Clause

A provision in the U.S. Constitution that grants Congress the power to regulate commerce with foreign nations, and among the several states and with the Indian tribes.

Interstate Commerce

The buying, selling, or moving of products, services, or money across state lines, subject to federal regulation.

State Laws

Laws that are enacted and enforced by individual states, as opposed to federal laws that apply to all states in the country.