Unilateral Transfers Are

question 197

Multiple Choice

Unilateral transfers are

• A) transactions that take place across national boundaries but in which both transactions are citizens of the same country.
• B) government transactions that use gold and other official reserves.
• C) gifts from a resident of one country to a resident in a foreign country.
• D) the payments of interest to residents of another country.

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Definitions:

Entrepreneurs

Individuals who initiate, manage, and assume the risks of starting and operating a business with the aim of making a profit.

Third Party

An entity involved in a transaction besides the two main parties; in insurance, the person other than the policyholder and the insurer who may be affected by or have a claim against the policy.

Costs

The amount that must be paid or spent to buy or obtain something.

Compensation

Payment or benefits received for services rendered or damages incurred; often used in the context of employment.