In the Balance of Payments Accounts, a Net Importer of Capital

question 126

Multiple Choice

In the balance of payments accounts, a net importer of capital is a nation that

• A)sells more goods in foreign countries than it imports
• B)buys more goods from foreign countries than it exports
• C)sells more assets to individuals in other countries than the assets it buys from them
• D)buys more assets from individuals in other countries than the assets it sells to them
• E)imports less machinery than it exports

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Definitions:

Quasi-Contracts

Quasi-contracts are legal obligations imposed by courts in order to prevent unjust enrichment, even though no actual contract exists.

Implied-In-Law

Refers to obligations and rights that arise from certain acts or situations as recognized by courts, despite no explicit agreement or contract.

Void Contract

A contract that is legally unenforceable from the start due to illegality or inability to fulfill the terms.

Quasi-Contract

Not an actual contract but a legal construct imposed by courts to prevent unjust enrichment where no formal contract exists.