When We Have a Negative Current Account,we Are

question 274

Multiple Choice

When we have a negative current account,we are

• A) borrowing from the rest of the world.
• B) lending to the rest of the world.
• C) running a government budget surplus.
• D) None of the above is correct.

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Definitions:

Indirect Taxes

Taxes levied on goods and services rather than on income or profits, such as sales tax or VAT.

Federal Government

The federal government is the national government of a federal country, which holds the authority to govern the nation as a whole and is composed of several separate levels, including a central governing body and state or provincial governments.

Custom Duties

Taxes imposed on the import and export of goods between countries.

Procedural Due Process

Legal doctrine that requires the government to follow fair procedures before depriving a person of life, liberty, or property.