In the Balance of Payments, a Deficit Item Is Any

question 160

Multiple Choice

In the balance of payments, a deficit item is any transaction

• A) that leads to a receipt by a resident of a country or its government.
• B) that leads to a payment by a resident of a country or its government.
• C) that is an export of a good or service.
• D) that makes residents of a country worse off.

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Definitions:

Consequential Damages

refer to losses that result indirectly from a breach of contract, extending beyond the direct and immediate damage.

Statute Of Limitations

Refers to the maximum period one can wait before filing a lawsuit, varying by the type of legal claim.

Alteration Of Contract

The process of modifying the terms and conditions of a contract, which can be done by mutual agreement of the parties involved or under certain conditions specified by law.

Decree Of Bankruptcy

A formal declaration by a court that declares a person or organization as insolvent, unable to pay their debts.