Since 1960, the size of the trade sector (exports plus imports) of the United States has been: increasing as a share of the economy. relatively constant as a share of the economy. decreasing as a share of the economy. None of the above are true answers to this question.
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The accompanying figure illustrates the trade deficit of the United States since $1987 .$ The United States has been consistently and, on the whole, increasingly importing more goods than it has been exporting. One of the countries it runs a trade deficit with is China. Which of the following statements are valid possible explanations of this fact? Explain. a. Many products, such as televisions, that were formerly manufactured in the United States are now manufactured in China. b. The wages of the average Chinese worker are far lower than the wages of the average American worker. c. Investment spending in the United States is high relative to its level of savings.
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