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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 6
Circle the letter that corresponds to the best answer. Which statement is false?
A) During World War I and World War II, the sum of our imports and exports as a percent of GDP rose sharply.
B) Foreign trade in goods is much more important to the American economy than foreign trade in services.
C) Because the American economy is much larger than any other economy, we can continue running larger and larger trade deficits for as long as we like.
D) We pay for a large chunk of our trade deficit with U.S. dollars.
A) During World War I and World War II, the sum of our imports and exports as a percent of GDP rose sharply.
B) Foreign trade in goods is much more important to the American economy than foreign trade in services.
C) Because the American economy is much larger than any other economy, we can continue running larger and larger trade deficits for as long as we like.
D) We pay for a large chunk of our trade deficit with U.S. dollars.
Explanation
Verified
Verified
Trade deficit refers to the situation wh...
Macroeconomics 11th Edition by Stephen Slavin
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