Exports pay for imports. Yet in 2009 the nations of the world exported about $379 billion more
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“Exports pay for imports. Yet in 2009 the nations of the world exported about $379 billion more 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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The apparent inconsistency in the statements can be resolved by understanding that trade balances ar...View the full answer
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Related Book For
Macroeconomics
ISBN: 9780077337728
19th Edition
Authors: Campbell Mcconnell, Stanley Brue, Sean Flynn, Flynn Mcconnell Brue
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