Which of the following is true of U.S.net exports prior to the 1960s?
A)Since most of the oil needs of the U.S.were met through imports,imports exceeded exports prior to the 1960s in the U.S.
B)Prior to the 1960s,exports from the U.S.more or less equalled imports into the U.S.
C)The U.S.was running a trade surplus prior to the 1960s.
D)Prior to the 1960s,the U.S.ran twin deficits- both a current account deficit as well as a budget deficit.
E)Since the U.S.dollar was overvalued prior to the 1960s,the U.S.exported less than it imported.

Question

Quizplus · Accepted Answer

Prior to the 1960s, the U.S. was running a trade surplus, meaning that its net exports were positive. This was mainly due to the fact that the U.S. was a major exporter of goods and services to the rest of the world, and its imports were relatively low in comparison.

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