Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 25 - The Balance of Payments, Exchange Rates, and Trade Deficits - Discussion Questions - Page 580: 10


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Work Step by Step

The trade deficit refers to the fact that the United States imports many more goods than it exports. This is a concern for many US officials, who often propose tariffs to change this. (In reality, this may not solve the problem, either.)
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