A Current Account Deficit Occurs When a Country Exports More

question 42

True/False

A current account deficit occurs when a country exports more goods and services and receives more income from abroad than it imports and pays abroad.

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Definitions:

Economic Models

Simplified representations of complex economic processes, used to predict economic outcomes or understand economic behavior.

Illegal Immigration

Refers to the movement of individuals into a country in violation of its immigration laws.

Refugees

Individuals who have been forced to flee their country due to persecution, war, or violence and cannot return home safely.

Employment-Based Immigrants

Individuals who are granted permission to live permanently in a country based on their job skills and employment opportunities.