The sharp deterioration of the US trade balance on goods after the 1970s was due in large part to which of the following?
A)The sharp rise in the price of imported petroleum products during the 1970s
B)The high international value of the dollar in the 1980s
C)The more rapid growth of the United States than Europe and Japan during the 1990s
D)All of the above

Question

Quizplus · Accepted Answer

The sharp deterioration of the US trade balance on goods after the 1970s can be attributed to a combination of factors: the sharp rise in the price of imported petroleum products during the 1970s, the high international value of the dollar in the 1980s, and the more rapid growth of the United States compared to Europe and Japan during the 1990s. Each of these factors contributed to increasing imports and/or decreasing exports, thereby worsening the trade balance.

The Sharp Deterioration of the US Trade Balance on Goods