The net force on the object is zero, so it has no acceleration. It moves in a straight line and at a constant speed (which may be zero).
Displacement is how much of a liquid (typically water for simplicity in the metric system) is pushed aside when another object is completely submerged. For example, when a 100mL of water has a block placed into it, and rises to 150mL, the block has displaced the water.
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