As a result of the 2007-2009 recession,
A) declining imports created a trade surplus for the United States.
B) the U.S. trade deﬁcit grew signiﬁcantly.
C) declining imports reduced the size of the U.S. trade deﬁcit.
D) roughly equivalent declines in both exports and imports left the U.S. trade balance unchanged.

Question

Quizplus · Accepted Answer

During the 2007-2009 recession, the United States experienced a reduction in imports due to decreased consumer demand and economic activity. This decline in imports contributed to a reduction in the size of the U.S. trade deficit, as the country was buying fewer goods and services from abroad compared to what it was selling.

As a Result of the 2007-2009 Recession