Last Year, the Nation of Kwansai Reported That It Had

question 177

Multiple Choice

Last year, the nation of Kwansai reported that it had a favorable balance of trade even though it imported $11 billion worth of goods. This indicates that Kwansai:

• A) exported $11 billion worth of goods.
• B) exported more than $11 billion worth of goods.
• C) overpriced the value of its exports.
• D) exported less than $11 billion worth of goods.

---

Definitions:

Building Mortgage

A type of loan specifically used for the purchase, construction, or improvement of buildings, secured by the building itself.

Acceleration Clause

A contractual clause that allows a lender to demand immediate repayment of all outstanding loans if certain conditions are violated.

Foreclosure

A legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments, often resulting in the forced sale of the asset used as collateral.

Default Notice Clause

A provision in a contract that specifies the conditions under which a party is considered in default and the notice that must be given to them.