Statement I: Much of our trade problem may be blamed on the Japanese who take advantage of our relatively open markets,while denying access to their own.
Statement II: The Japanese have been running huge bilateral trade surpluses in manufactured goods with nearly all their trading partners.

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.

Question

Nathan Mackett · Accepted Answer

Final Answer : C, Explanation :  Both statements are true. Statement I suggests that Japan takes advantage of open markets while restricting entry into its own market, which is supported by evidence of trade surpluses in statement II.

Definitions

Learning Objectives

Learning Objectives

Related questions