Asked by Deangelo Johnson on Jul 29, 2024
Verified
Which of the following accounted for over 85% of our trade deficit in goods and services in 2009?
A) Imports from ChinA.
B) Imports from Japan.
C) Imports of Oil.
D) Imports of steel.
Trade Deficit
A scenario in which a nation imports more goods and services than it exports, leading to a negative trade balance.
Oil
A fossil fuel that is a primary source of energy for heating, transportation, and the production of many goods, playing a critical role in the global economy.
- Identify the economic outcomes associated with trade deficits and surpluses.
Verified Answer
EE
Emiliano ElizondoAug 03, 2024
Final Answer :
C
Explanation :
According to the data provided, imports of oil accounted for over 85% of the trade deficit in goods and services in 2009. Therefore, option C is the correct answer.
Learning Objectives
- Identify the economic outcomes associated with trade deficits and surpluses.