Asked by
Miriam Carrillo
on Oct 12, 2024
Verified
Statement I: A strong case could be made that much of the blame for our trade deficit with Japan can be traced to unfair Japanese trade practices.
Statement II: There is virtually nothing the United States can do to lower its trade deficit.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Trade Deficit
The economic condition that arises when a country imports more goods and services than it exports.
Unfair Trade Practices
Business activities deemed unjust, deceptive, or fraudulent that can affect fair competition in the market.
- Recognize the repercussions of international trade policies and practices on the U.S. economy.
- Deliberate on the strengths and weaknesses of applying tariffs, quotas, and liberal trade practices.
Verified Answer
CD
Learning Objectives
- Recognize the repercussions of international trade policies and practices on the U.S. economy.
- Deliberate on the strengths and weaknesses of applying tariffs, quotas, and liberal trade practices.