Because the United States Has Had Substantial Deficits in Goods

question 169

Multiple Choice

Because the United States has had substantial deficits in goods and services, it has also necessarily had surpluses in

• A)the federal budget.
• B)the sales of assets.
• C)the sales of military goods.
• D)its gold supplies.

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Definitions:

Holder in Due Course

A legal term describing a party who has acquired a negotiable instrument in good-faith and for value, and thus has certain rights above the original payee, especially in terms of enforcing payment.

Fair Value

An estimate of the market value of an asset, determined by mutual agreement between a willing buyer and seller, each possessing adequate information.

Good Faith

Acting with honesty and without the intention to defraud or to seek an unfair advantage.

Without Alteration

A term referring to maintaining the original state or condition of something without any changes or modifications.