How Is the "Balance of Payments" Defined

question 11

Multiple Choice

How is the "balance of payments" defined?

• A) The annual difference between payments and receipts between a country and its trading partners.
• B) The positive and negative effects of economic activities on third parties.
• C) The amount by which annual government expenditures exceed revenues.
• D) The total outstanding debt of the federal government.
• E) The sum total of all annual budget deficits and surpluses.

---

Definitions:

Correct Meaning

A precise or accurate interpretation or definition of a word or phrase.

Nerve Cells

Cells specialized for conducting nerve impulses; known as neurons, they form the fundamental components of the nervous system.

Pituitary Gland

A small endocrine gland at the base of the brain that controls various bodily functions by producing hormones.

Hormone Secretions

The process by which hormones are released by glands into the bloodstream.