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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

If the trade deficit of the United States increases, how is the current account balance affected?

To determine

The effect on the current account balance if the trade deficit of U.S. increases is to be determined.

Explanation

As we know, current account has a component known as balance of trade which consists of imports and exports .For balance of trade to be positive, exports should be more than imports...

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