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Over the past four years, the US trade deficit has increased to $576.9 billion. Based on your understanding of what it means to have a trade deficit, is this number too large? Why or why not? What are the implications for the short-term and long-term US economy?

Over the past four years, the US trade deficit has increased to $576.9 billion. Based on your understanding of what it means to have a trade deficit, is this number too large? Why or why not? What are the implications for the short-term and long-term US economy?

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter23: The International Trade And Capital Flows
Section: Chapter Questions
Problem 2SCQ: If the trade deficit of the United States increases, how is the current account balance affected?
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Over the past four years, the US trade deficit has increased to $576.9 billion. Based on your understanding of what it means to have a trade deficit, is this number too large? Why or why not? What are the implications for the short-term and long-term US economy?
Transcribed Image Text:Over the past four years, the US trade deficit has increased to $576.9 billion. Based on your understanding of what it means to have a trade deficit, is this number too large? Why or why not? What are the implications for the short-term and long-term US economy?
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