If the Current Account Is in Deficit, Imports of Goods

question 213

True/False

If the current account is in deficit, imports of goods and services exceed exports of goods and services (plus net unilateral transfers).

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Definitions:

Produce

To create, manufacture, or grow goods and products for consumption or sale.

Hair Scarves

Fabric pieces designed to be worn around the head or neck, often used for fashion, religious purposes, or hair protection.

Necklaces

Ornamental chains or strings of beads, jewels, or links worn around the neck.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all are efficiently utilized.