As of 2009, Annual Imports to the U

question 27

Multiple Choice

As of 2009, annual imports to the U.S.were approximately ____ and annual exports from the U.S.were approximately ____.

• A) $0.6 trillion; $1.5 trillion
• B) $2.0 trillion; $0.6 trillion
• C) $2.0 trillion; $1.5 trillion
• D) $1.5 trillion; $2.0 trillion
• E) $2.0 trillion; $2.0 trillion

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Definitions:

Monetary Damages

Financial compensation awarded to a person as restitution for loss or injury caused by the unlawful acts of another.

Legal Damages

Compensation, often financial, awarded by a court to a person who has suffered loss or injury due to the unlawful act or negligence of another.

Novation

In a contract, the substitution of a third party for one of the original parties; the duties remain the same under the contract, but one original party is discharged and the third party takes that original party’s place.

Substituted Contract

An agreement between the contracting parties to replace an existing contract with a new one, possibly altering terms or obligations.