If the United States Had Negative Net Exports Last Year

question 341

Multiple Choice

If the United States had negative net exports last year, then it

• A)sold more abroad than it purchased abroad and had a trade surplus.
• B)sold more abroad than it purchased abroad and had a trade deficit.
• C)bought more abroad than it sold abroad and had a trade surplus.
• D)bought more abroad than it sold abroad and had a trade deficit.

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Definitions:

Contracted

Entered into a formal and legally binding agreement between two or more parties outlining specific obligations.

Anticipatory Repudiation

A declaration by one party to a contract of their intention not to perform their future obligations as agreed, allowing the other party to treat the contract as breached and seek remedies.

Mutual Agreement

A mutual agreement is an understanding or arrangement made between two or more parties, usually detailed in a formal contract.

Discharge

The release or termination of a person’s duty, debt, or obligation, effectively relieving them from responsibility.