In 2005,DAMA's Exports Were $30 Billion,imports $40 Billion,and Real GDP

question 19

Multiple Choice

In 2005,DAMA's exports were $30 billion,imports $40 billion,and real GDP $200 billion.DAMA had a trade ________ equal to ________ of GDP in 2005.

• A)surplus;5 percent
• B)deficit;5 percent
• C)surplus;10 percent
• D)deficit;10 percent

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Definitions:

Straight Bankruptcy

A term often used to refer to Chapter 7 bankruptcy, which involves the liquidation of a debtor's assets to repay creditors.

Chapter 7

A provision of the United States Bankruptcy Code dealing with liquidation, where a debtor's assets are sold to pay off creditors.

Liquidation

The process of closing a business and distributing its assets to claimants, often during bankruptcy.

Bankruptcy Code

The body of federal law governing the process of bankruptcy in the United States, allowing individuals or entities to eliminate or reorganize debt.