The Following Table Shows the Balance of Payments Statement for the Hypothetical

question 33

Multiple Choice

The following table shows the balance of payments statement for the hypothetical nation of Zabella in 2014.All the figures are in billions of dollars. Refer to the above data.Given the scenario, it can be said that Zabella experienced a balance of payments:

• A)deficit of $5 billion in 2014.
• B)surplus of $10 billion in 2014.
• C)deficit of $10 billion in 2014.
• D)surplus of $5 billion in 2014.

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Definitions:

Revised Article 3

An updated part of the Uniform Commercial Code dealing with negotiable instruments, such as checks.

Payable to Order

Refers to a financial instrument that is made payable to the specific order of a person or an entity.

Consumer Paper

Consumer paper consists of financial documents and instruments that reflect personal indebtedness, such as loans, mortgages, and credit agreements.

Holder in Due Course

A party that holds a negotiable instrument and has certain rights to payment not subject to defenses.