The Statistical Discrepancy in the Balance-Of-Payments Accounts

question 62

Multiple Choice

The statistical discrepancy in the balance-of-payments accounts

• A)arise since recordings of payments and receipts are done at different times,in different places,possibly using different methods.
• B)arise because some transactions (illegal transactions)occur "off the books."
• C)represents omitted and misreported transactions.
• D)all of the options

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Definitions:

Antifederalists

Individuals who opposed the ratification of the Constitution in 1787, fearing centralized power and a lack of protections for individual rights.

National Supremacy

The principle that federal law takes precedence over state law in the United States.

Treaties

Formal agreements between two or more sovereign states that are governed by international law.

Reserved Powers

Reserved powers refer to the authorities and rights not explicitly granted to the federal government by the Constitution, therefore reserved for the states and the people, as outlined in the Tenth Amendment of the United States Constitution.