Question 38 1 p Which statement is false? (LO3) During World War I and World War II, the sum of our imports and exports as a percent of GDP rose sharply. Foreign trade in goods is much more important to the American economy than foreign trade in services. O Because the American economy is much larger than any other economy, we can continue running larger and larger trade deficits for as long as we like. O We pay for a large chunk of our trade deficit with U.S. dollars