When Economists Talk About a "Balance of Payments" Deficit, They

question 61

True/False

When economists talk about a "balance of payments" deficit, they refer to a condition in which total debits exceed total credits in the balance of payments account.

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Definitions:

Economic Espionage Act

A U.S. law that makes it a federal crime to steal or obtain trade secrets knowingly to benefit any foreign power.

Arson

The criminal act of deliberately setting fire to property.

Defraud

The act of purposely deceiving another individual or entity to achieve personal gain or to cause a loss to the other party.

The Internet

A global network of computers that provides a wide range of information and communication facilities.