Which of the following reasons best explains why the United States is a net importer of crude oil and metals and a net exporter of farm crops?

Question

Quizplus · Accepted Answer

The United States is a net importer of crude oil and metals and a net exporter of farm crops mainly due to differences in resource endowments. The U.S. has a comparative advantage in producing agricultural products because it has abundant fertile land and favorable weather conditions. On the other hand, the U.S. lacks the necessary resources to produce crude oil and metals in large quantities, which makes it a net importer of these goods.

Which of the Following Reasons Best Explains Why the United