When Is a Balance of Payments Account Out of Balance

question 153

Multiple Choice

When is a balance of payments account out of balance?

• A)only when exports are greater than imports
• B)only when imports are greater than exports
• C)when exports are either greater or less than imports
• D)only when exports are greater or less than imports over a sustained period
• E)never

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Definitions:

Micro-culture

A distinct cultural group operating within a larger culture, often having its own values, norms, and practices.

Macro-culture

The dominant or overarching culture of a large group or society which influences norms, values, and practices.

Cultural Conflict

A clash or struggle that arises from differences in beliefs, values, and customs between individuals or groups from different cultures.

Cultural Stereotype

Oversimplified and generalized opinions about the traits, behaviors, and characteristics of a particular cultural group.