Asked by
David Maldonado
on Oct 13, 2024
Verified
Statement I: Until the mid-1970s,our imports and exports was a relatively small percentage of our domestic goods output.
Statement II: Our negative merchandise trade balance is about as large as our positive services trade balance.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Merchandise Trade Balance
The difference between a country's exports and imports of tangible goods.
Services Trade Balance
The difference between exports and imports of services of a country, reflecting whether a country is a net provider or consumer of services internationally.
- Trace the historical fluctuations in the net exports of the United States.
- Investigate the components of the US trade balance, incorporating analysis of merchandise and services.
Verified Answer
KD
Learning Objectives
- Trace the historical fluctuations in the net exports of the United States.
- Investigate the components of the US trade balance, incorporating analysis of merchandise and services.