Asked by Brady Kelly on Jul 11, 2024
Verified
When he was president,George W.Bush proposed drilling for oil in Alaskan wildlife preserves.If the drilling were placed and oil discovered,once a pipeline is constructed to deliver that oil,this would
A) tend to raise our trade deficit.
B) tend to lower our trade deficit.
C) have no affect on our trade deficit.
Trade Deficit
A situation in which a country's imports of goods and services exceed its exports, resulting in a negative balance of trade.
Wildlife Preserves
Protected areas dedicated to the conservation of animals, plants, and their natural habitats, ensuring biodiversity and ecological balance.
- Interpret the economic significance of trade imbalances.
Verified Answer
SP
Sruhad PatelJul 11, 2024
Final Answer :
B
Explanation :
Discovering and utilizing domestic oil sources, such as through drilling in Alaskan wildlife preserves, would reduce the need to import oil from foreign countries. This reduction in imports would, in turn, lower the United States' trade deficit, which is the difference between what the country imports and what it exports.
Learning Objectives
- Interpret the economic significance of trade imbalances.