Asked by
isabella derteano
on Oct 13, 2024
Verified
Which is the most accurate statement?
A) Because the American economy is much larger than any other country,we can continue running larger and larger trade deficits for as long as we like.
B) Most of the protesters at WTO meetings oppose strict environmental standards.
C) Since the passage of NAFTA our trade deficits with Mexico and Canada have increased.
D) Most economists would describe themselves as being against free trade.
NAFTA
The North American Free Trade Agreement, a treaty entered into by the United States, Canada, and Mexico; it was superseded by the United States-Mexico-Canada Agreement (USMCA) in 2020.
Trade Deficits
A situation in which a country's imports of goods and services exceed its exports, leading to more money flowing out of the country than coming in.
- Understand the substantial agreement on free trade principles within the economics community and the differing stances on globalization.
- Examine the historical tendencies in the United States' net export figures.
Verified Answer
TJ
Learning Objectives
- Understand the substantial agreement on free trade principles within the economics community and the differing stances on globalization.
- Examine the historical tendencies in the United States' net export figures.