Exports pay for imports. Yet in 2007 the nations of the world exported about $709 billion more

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Exports pay for imports. Yet in 2007 the nations of the world exported about $709 billion more worth of goods and services to the United States than they imported from the United States. Resolve the apparent inconsistency of these two statements.

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:58 AM

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Exports pay for imports. Yet in 2007 the nations of the world exported about $709 billion more

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Exports pay for imports in the long run In the short t...View the full answer

Economics

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