A Favorable Balance of Payments Means That

question 38

Multiple Choice

A favorable balance of payments means that

• A) exports exceed imports.
• B) imports exceed exports.
• C) payments exceed trade.
• D) exports and other payments exceed imports and other receipts.
• E) total receipts exceed total payments.

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Definitions:

Natural Rights

Fundamental rights that are believed to be inherent and inalienable to all humans, such as life, liberty, and property, often emphasized in Enlightenment thought.

Tabula Rasa

A philosophical theory meaning "blank slate" in Latin, proposing that individuals are born without built-in mental content, and all knowledge comes from experience or perception.

Philosophe

An intellectual of the 18th-century Enlightenment who sought to apply reason to the study of many areas of learning, including philosophy, history, science, politics, economics, and social issues.

Serfdom Patent

A document or decree abolishing or altering the conditions of serfdom, a form of labor widely used in feudal systems where serfs were tied to and worked land owned by lords.