Asked by Breana Gordon on Apr 28, 2024

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Statement I: In 2009 the United States had a negative merchandise balance of trade over $708 billion.
Statement II: In 2009 the United States had a positive services balance of trade over $118 billion.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Merchandise Balance

The gap between what a nation exports and imports in terms of physical products.

Services Balance

The difference in value between a country's exported and imported services.

  • Analyze the composition of the US trade balance including merchandise and services.
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Matthew BustamenteApr 28, 2024
Final Answer :
C
Explanation :
Both statements are true. In 2009, the United States did indeed have a significant negative merchandise balance of trade, indicating that it imported more goods than it exported. Additionally, the country had a positive services balance of trade, meaning it exported more services than it imported.