When Countries Try to Maintain a Trade Surplus and Expand

question 171

True/False

When countries try to maintain a trade surplus and expand their national treasuries at the expense of other nations, they are accused of practicing neo-mercantilism.

---

Definitions:

Creditors' Claims

Legal rights or assertions by lenders or creditors to collect what is owed to them by debtors.

Chapter 11

A provision of the United States Bankruptcy Code that allows businesses to reorganize and restructure their debts under the supervision of the court.

Automatic Stay

A legal provision that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy.

Collection Proceedings

The legal process initiated by creditors to recover debts from borrowers through formal legal actions, including lawsuits, garnishments, and property liens.