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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Why does a recession cause a trade deficit to increase?

To determine

To state: the reasons for an increase in the trade deficit due to recession.

Explanation

Recession is a economic situation in which trade, industrial activity reduces, consumer spending falls, their reduced purchasing power reduces demand in the economy and demand of imports also reduces ...

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