In 2020 the United States had a current account deficit. The current account deficit implies that the United States A. consumed more output than it produced. B. none is correct. C. produced more output than it consumed. D. had a surplus on legal consulting and engineering services.

In 2020 the United States had a current account deficit. The current account deficit implies that the United States A. consumed more output than it produced. B. none is correct. C. produced more output than it consumed. D. had a surplus on legal consulting and engineering services.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter23: The International Trade And Capital Flows

Section: Chapter Questions

Problem 6SCQ: The GDP for the United States is 18,036 billion and its current account balance is 484 billion. What...

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Question

In 2020 the United States had a current account deficit. The current account deficit implies that the United States

	A.	consumed more output than it produced.
	B.	none is correct.
	C.	produced more output than it consumed.
	D.	had a surplus on legal consulting and engineering services.

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