A Current Account Surplus Means That Canadian Spending on Imports

question 186

True/False

A current account surplus means that Canadian spending on imports from R.O.W. is greater than R.O.W. spending on Canadian exports.

---

Definitions:

Compounded Quarterly

Interest added to the principal sum every quarter, or four times a year, resulting in the interest of the next period being calculated on the new total.

Car Loan

A sum of money borrowed to purchase a car, which is expected to be paid back with interest over a set period of time.

Down Payment

An initial upfront portion of the total amount due, typically associated with the purchase of expensive items like cars or real estate, to secure the deal.

Ordinary Annuity

A financial product involving regular payments received or paid over a designated period of time at equal intervals.