In 2010 the United States posted a current account deficit of -$471 billion.The bulk of the negative value came from:
A) a net transfer deficit.
B) an income balance deficit.
C) a goods trade deficit.
D) an income trade deficit.

Question

Quizplus · Accepted Answer

The goods trade deficit reflects the excess of imports over exports, and it represents the largest component of the current account deficit. The other options (net transfer deficit, income balance deficit, and income trade deficit) are also part of the current account, but they are not as significant as the goods trade deficit in terms of their contribution to the overall imbalance.

In 2010 the United States Posted a Current Account Deficit