A Country That Is a Net Creditor

question 109

Multiple Choice

A country that is a net creditor

• A) shows a deficit in its current account.
• B) receives more tax revenue from its citizens than it returns in transfer payments.
• C) lends more funds to foreigners than it borrows.
• D) shows a surplus in its financial account.
• E) sells more bonds to the rest of the world than it buys from the rest of the world.

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Definitions:

Contract Comes into Existence

The point at which an agreement between two or more parties is legally enforceable, usually triggered by an offer, acceptance, and adequate consideration.

Specific Performance

A legal remedy requiring a party to fulfill their obligations under a contract, rather than providing monetary compensation for failing to do so.

Contract Remedy

The legal means available to a party to enforce, redress, or protect their rights under a contract.

Rescission

The legal act of voiding a contract and returning the parties involved to their original positions, as if the contract had never been executed.