In the Balance of Payments, All of the Following Are

question 176

Multiple Choice

In the balance of payments, all of the following are deficit items EXCEPT

• A) imports of merchandise.
• B) funds placed in foreign depository institutions.
• C) sales of dollars to foreigners.
• D) tourism expenditures abroad.

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Definitions:

Noneconomic Damages

Compensation awarded in a lawsuit for losses that do not have a direct monetary value, such as pain and suffering, loss of companionship, or emotional distress.

Negligence

The failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability.

Disclaimer

A term in a contract whereby a party attempts to relieve itself of some potential liability associated with the contract. The most common example is the seller’s attempt to disclaim liability for defects in goods that it sells.

Recovery

The act of obtaining something of value through legal means, often in compensation for damages or loss.