During the years 1970-1986, the merchandise balance of trade in the U.S. shifted from a

A. trade deficit to a trade surplus.
B. small trade deficit to a large trade surplus.
C. trade surplus to a large trade deficit.
D. small trade surplus to a large trade surplus.


C. trade surplus to a large trade deficit.

Economics

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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.

A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease

Economics

Under alternative scenarios, the national debt as a percentage of GDP is projected to rise dramatically

a. True b. False

Economics

The first claim on a corporation's after-tax profits is held by the

a. consumers b. managers c. stockholders d. bondholders e. government

Economics

As the world economy grew during the 1920s, the gold standard proved to be:

A) a real problem because the quantity of gold could not keep pace with economic expansion, resulting in severe deflation. B) a boon to importers and exporters. C) highly inflationary. D) well-suited to new methods of transferring gold stocks between nations.

Economics