Asked by Susan Nguyen on Jul 27, 2024
Verified
At the time when a trade deficit is occurring, U.S. consumers benefit from having more goods and services available.
Trade Deficit
A situation where a country's imports exceed its exports, resulting in a negative balance of trade.
- Comprehend the impact of trade balances on the economies of nations and the valuation of currencies.
Verified Answer
AR
Austin RoutzongJul 28, 2024
Final Answer :
True
Explanation :
A trade deficit occurs when a country imports more goods and services than it exports, meaning U.S. consumers have access to a wider variety of goods and services, often at lower prices, which can be seen as a benefit.
Learning Objectives
- Comprehend the impact of trade balances on the economies of nations and the valuation of currencies.