In the Balance of Payments, a Deficit Item Is Any

question 160

Multiple Choice

In the balance of payments, a deficit item is any transaction

• A) that leads to a receipt by a resident of a country or its government.
• B) that leads to a payment by a resident of a country or its government.
• C) that is an export of a good or service.
• D) that makes residents of a country worse off.

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Definitions:

70 Years

A measure of time often associated with copyright duration, extending 70 years beyond the life of the creator.

Easement

An irrevocable right to use some part of another’s land for a specific purpose without taking anything from it.

Irrevocable Right

A legal entitlement or privilege that cannot be withdrawn, cancelled, or reversed after it has been granted.

Reverse Engineering

The process of deconstructing a man-made object in order to reveal its designs, architecture, or to extract knowledge from the object.