View the data on the trade balance below. Then answer the questions that follow.   Is the United States currently in a trade deficit or a trade surplus situation? What is the most recent amount of deficit or surplus? There’s a time between July 2008 and February 2009 when the value of the trade deficit changed substantially. Did the trade deficit increase or decrease during this time?

Q: Since the 2000s, U.S. trade deficit in goods has increased the most with which of the following…

A: A trade deficit is an amount by which the cost of a country's imports exceeds its exports.

Q: Generally, how does the standard of living in the United States today compare to the standard of…

A: Standard of Living Comparison The standard of living in the United States today is generally higher…

Q: In the picture below is the full question. The highlighted one is my guess which is wrong. If the…

A: Appreciation of the U.S. dollar means People of the united states can buy more goods and services…

Q: The balance of trade shows a deficit of $200 million. With the value of exports being $300 million,…

A: The nations around the world tend to interact with other nations, and get involved in international…

Q: The following table shows the approximate value of exports and imports for the United States from…

A: Balance of trade or trade balance represents the difference between the values of export and import.…

Q: How big is the trade deficit relative to overall GDP?

A: The gross domestic product (GDP) is a standard measure of the value added created by the production…

Q: The balance of trade shows a deficit of $200 million. With the value of exports being $300 million,…

A: The values given are:- Balance of trade = -200 million -ve sign is there because the Trade balance…

Q: If a country has a trade deficit, what will occur?Choose one answer.a. Imports will exceed exports.…

A: International trade is the trade that takes place beyond the national boundary. Exports refer to the…

Q: When looking only at the import and export of services, the U.S.    a. has a trade deficit b. has a…

A: When imports of a country are greater than its exports, it is said to have a trade deficit. When…

Q: In a recession, the trade balance often improves because

A: Recession is a term used to describe a slowdown in the economy that persists over a few months.…

Q: How could an increase in a nation's fiscal deficit increase its trade deficit?

A: Government budget deficit affects the trade deficits. Budget deficit occurs when spending increases…

Q: The balance of trade refers to the balance of imports and exports. True or false

A: Balance of payments is the records of all the transactions of the economy with the rest of the…

Q: Other things equal, an increase in government purchases of goods and services pushes the trade…

A: Macroeconomic surveillance will remain critical since it dictates the economy's long-term growth…

Q: What are some reasons to think that America is obligated to help poor countries? What are some…

A: When an economy opens up, it makes various exchanges with the rest of the world in terms of trade or…

Q: Evaluate how a growing trade deficit influences the US economy

A: The difference between exports and imports of goods and services in an economy is called the trade…

Q: Video Link: https://youtu.be/SG8DCgjkGzY The opening of the video, Global Mind: The Future of…

A: The expression "globalization" was first used by economist and Harvard Business School instructor…

Q: We often hear that trade deficits are bad for a country. Should we agree or disagree with this…

A: Trade deficit is a situation which arises when the imports of the country exceeds its exports that…

Q: What is the latest status on trade agreements between Europe and the UK after Brexit?

A: Introduction Trade agreements refer to agreements between two or more countries that define how…

Q: 1. Imports, exports, and the trade balance The following table shows the approximate value of…

A: Balance of trade or trade balance represents the difference between the values of exports and…

Q: Scroll down to "U.S. Trade in Goods and Services by Selected Countries and Areas, 1999 - Present"…

A: Goods, products, or services that are produced or provided within a country's borders and are sold…

Q: trade deficit

A: When imports exceed exports depicts the trade deficit. They can be of both short term or long term.…

Q: Is trade deficit always a problem? Support your answer with proper reasoning

A: No, trade deficit is not always a bad thing. A country which runs a trade deficit in general imports…

Q: Over the past four years, the US trade deficit has increased to $576.9 billion. Based on your…

A: In the face of globalization, the practice of maintaining trade deficits has become increasingly…

Q: Between 1984 and 1985, the ______ (surplus/deficit) _______(grew/shrank/remained the same) in…

A: Net exports is defined as exports minus imports. Net exports can be positive, if exports are more…

Q: You have just been hired by the U.S. government to analyze the following scenario. Suppose the U.S.…

A: Economics refers to the social science that studies the production, distribution, and consumption of…

Q: Just a couple of years after the economic crisis, Spain managed to reduce their trade deficit, was…

A: Spain applied a policy of depreciating the value of its currency, this makes the prices of goods…

Q: In 2001, 2002, and 2003, Congress passed the series of tax cuts that President Bush had requested.…

A: The increased consumer spending due to the tax cuts leads the country towards a larger trade…

Q: Graphically, when is the balance of trade equal to zero? Multiple Choice   When the rising IM line…

A: Export (X) remains constant at each level of GDP level.  Hence, the Export (X) curve is horizontal…

Q: You are an IMF official going to a country whose export earnings are not able to pay for imports.…

A: Import of goods and services to an economy from the rest of the world leads to outflow of funds from…

Q: Has trade deficit impacted the U.S. economic growth?

A: In international trade, different countries of the world import and export goods and services from…

Q: Please answer What are some of the major developments in trade over the past two decades? What are…

A: Economic development is basically the process of improving a nation's, region's, local community's,…

Q: Trade distortion effects increases estimates of the United States' trade deficit with China. To what…

A: Trade distortion refers to numerous regulations or factors which can alter or disrupt the natural…

Q: Question: What is the term for a situation where a country exports more goods and services than it…

A: Ans. The correct term for a situation where a country exports more goods and services than it…

Q: Suppose the US goes into a recession where the economy is not growing very quickly (or is actually…

A: A trade deficit occurs when the US imports more products and services than it exports. When a…

Q: From time to time, a government official will argue that a country should strive for both a trade…

A: Trade surplus is a situation where the net exports- X(exports) are larger than M(imports). Trade…

Q: Please define trade surplus, deficit and balance concepts. What currency strategy would you suggest…

A: The trade surplus is the situation in the international market which means there is less import…