Find the Limit

question 113

Multiple Choice

Find the limit.

Distinguish between different types of international transactions and their respective impacts on a nation's balance of payments.

Understand the components and structure of the balance of payments.

Analyze the effects of current account deficits or surpluses on the capital and financial accounts.

Identify and interpret the key entries in balance of payments tables.

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Definitions:

Might Makes Right

The idea that, when determining who has legitimate power to govern a society, those who are the strongest or otherwise superior should (or inevitably will) rule. In effect, this is to claim that the person who is strong enough to hold on to ruling authority has legitimate power merely by virtue of being strong enough to retain power.

Distributive Justice

The ethical principle concerning the fair allocation of resources and goods among members of a society.

Retributive Justice

The fair use of punishment.

Human Right

A right that is believed to belong justifiably to every person, including basic freedoms and protections, irrespective of their nationality, sex, ethnic origin, color, religion, language, or any other status.