Asked by Brian Metroz on Jul 11, 2024
Verified
Which statement is false?
A) Looking at our trading pattern with Japan,one might reach the conclusion that we were an economic colony of Japan.
B) Until the 1990s,the United States was the prime exporter of consumer electronics products,such as TVs,cameras and DVD players.
C) In 1984 U.S.trade deficits first passed the $100 billion mark.
D) The last year the U.S.ran a trade surplus was 1975.
Trade Deficit
An instance where the value of goods and services a country imports is greater than what it exports, causing a trade imbalance negatively.
Economic Colony
A region or country under the economic control or influence of another, often exploited for its resources.
Prime Exporter
A country or firm that is the leading seller of goods or services to foreign countries, thereby holding a significant share of international trade in certain commodities or products.
- Familiarize yourself with the historical context of U.S. trade policies and their economic outcomes.
Verified Answer
CP
Calliesta PariseauJul 16, 2024
Final Answer :
B
Explanation :
Until the 1990s, Japan, not the United States, was the prime exporter of consumer electronics products. The U.S. had already begun to lose its dominance in the production of TVs, cameras, and other consumer electronics by that time, with Japan and later other Asian countries taking the lead in these sectors.
Learning Objectives
- Familiarize yourself with the historical context of U.S. trade policies and their economic outcomes.