Which of the Following Is True

question 45

Multiple Choice

Which of the following is true?

• A)​U.S.imports are considered a credit item in the balance of payment, because the dollars sold to buy the necessary foreign currency add to foreign claims against U.S.buyers.
• B)​When the U.S.runs a trade deficit in goods and services with the rest of the world, the rest of the world must be running a trade surplus in goods and services with the U.S.
• C)​When the U.S.runs a trade deficit in goods, it must run a trade surplus in services.
• D)​None of the above is true.

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Definitions:

Vice President

An official ranking below the president in a governmental hierarchy, whose responsibilities vary depending on the governing laws, and typically includes assuming the presidency if the president is unable to serve.

Congress

The bicameral legislature of the United States government, composed of the House of Representatives and the Senate, responsible for making federal laws.

War

Armed conflict between states, societies, or groups, characterized by the use of military force to achieve political, economic, or social objectives.

Officially Declared

A term indicating that a statement or action has been formally announced or recognized by an authoritative body or individual.