Asked by Katlyn Holder on Jul 11, 2024
Verified
Net exports became negative in the
A) 1930s.
B) 1950s.
C) 1970s.
D) 1990s.
Net Exports
The value of a country's total exports minus its total imports, representing the balance of trade.
1930s
A decade marked by the Great Depression, significant economic hardship, unemployment, and social changes worldwide.
1950s
A decade marked by post-World War II recovery, economic prosperity in many countries, and significant socio-cultural developments.
- Understand the historical developments in global trade and the movement in the hierarchy of the world's top exporters.
- Understand the timeframe of significant shifts in trade patterns and agreements.
Verified Answer
TM
Thomas MinconeJul 17, 2024
Final Answer :
C
Explanation :
Net exports became negative in the 1970s, which means that a country's imports exceeded its exports during this time period. This was due in part to the increase in international trade and competition, as well as the shift towards a more service-based economy in many developed countries.
Learning Objectives
- Understand the historical developments in global trade and the movement in the hierarchy of the world's top exporters.
- Understand the timeframe of significant shifts in trade patterns and agreements.