Certain High-Technology Components May Not Be Exported to Nations on the Export

question 13

True/False

Certain high-technology components may not be exported to nations on the Export Controls List. The export broker for a manufacturer of such components could be held liable for any loss to the manufacturer as a result of incorrectly classifying prohibited components on the export approval applications.

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Capital

Economic resources used in the production of goods and services, such as machinery, buildings, or tools.

Construction Crane

A type of machinery used on construction sites to lift and lower materials and to move them horizontally.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.