When a Current Account Has a Surplus of $5 Billion,it

question 69

Multiple Choice

When a current account has a surplus of $5 billion,it means that

• A)the capital account must have a deficit of $5 billion.
• B)next exports must be negative.
• C)net foreign lending is negative.
• D)net acquisition of foreign assets is negative.

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Definitions:

Tax Proration

The division or allocation of taxes between parties (such as buyers and sellers) based on their period of ownership or usage.

Annual Tax Bill

The total amount of tax owed by an individual or corporation in a given fiscal year.

Taxable Income

The amount of income that is used to calculate how much tax an individual or a company owes to the government.

Part-time Janitor

A Part-time Janitor is an individual employed on a less than full-time basis to perform cleaning and maintenance duties in a building or facility.