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: What are the actors that facilitate economic globalization. Discuss each of them.

A: Economic globalization is defined as the movement of capital, goods, service,  information, and…

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: Will nations that are more involved in foreign trade tend to have higher trade imbalances, lower…

A: Foreign trade pattern is depending upon many factors and it is not predictable.   The trade patterns…

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: 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: Do you think that the balance of economic power in the world has started to shift from west to east?

A: Economic power means having impact to a great extent since the country is able to produce, sell or…

Q: import and export?

A: Imports are the goods and services, purchased from the rest of the world by a country, rather than…

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: 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: What do you think would happen to a country's economy if there is too much imported goods?

A: International trade is the sale and purchase of commodities and services between countries…

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: What would be the Export of goods if imports of goods are $90 and balance of trade is $70?

A: Exports of goods and services address the worth of all goods and other market services gave to the…

Q: Explain the positive and negative aspects of globalization.

A: Globalization implies the speedup of developments and trades (of individuals, merchandise, and…

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: Define each of the following terms: c. Trade deficit; devaluation; revaluation

A: Trade deficit: Trade deficit can be defined as a situation where country's import exceeds its…

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: What is current account deficit? List down, with detailed explanations, what causes current account…

A: Current Account forms a part of a country's Balance of Payments (BOP). It includes trade in goods…

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: A country that is spending more than it makes a- unstable b- trade balance c- trade deficit c-…

A: The country's commerce and economic activity can be measured by looking at the balance of trade. It…

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: Discuss the following statement: “It’s true that running a current account deficit for a developing…

A: A current account deficit in the economy occurs when the export in the country is greater than the…

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: How a devaluation may reduce the trade deficit of a country? What condition is required to reduce…

A: Devaluation is the fall in the value of a country's currency. As a result of fall in exchange rate,…

Q: What are the main imports and exports of Venezuela?

A: Venezuela's economy is mainly reliant on petroleum, and it is currently in a condition of utter…

Q: Discuss this statement : " Because each nation's balance of payments equals zero , it follows that…

A: The goal of a balance of payments deficit or surplus is to comprehend the debt or rest in a…

Q: What are the major components of trade balance

A: Trade balance, or balance of trade, is the term used to calculate the difference between a country's…

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: What has been the impact of granting China permanent trade status? Who has benefitted?How much has…

A: International trade:International trade means buying and selling of goods and services from outside…