A Company That Sells Insurance Coverage in the Form of Contracts

question 4

True/False

A company that sells insurance coverage in the form of contracts of insurance known as policies is legally described as an indemnity agency.

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Definitions:

Balanced Trade

A trade situation in which the value of a country's exports equals the value of its imports over a certain period.

Net Exports

The value of a country's total exports minus the value of its total imports.

Trade Surplus

The amount by which the value of a country's exports exceeds the cost of its imports.

Exports

Goods or services sold by one country to another, contributing to the selling country's gross domestic product.