Question

From 2001 through 2008 , the U.S. trade gap widened, spurred by a surge of imports. What was likely happening to income in the U.S. economy? LO3

   From 2001 through 2008 , the U.S. trade gap widened, spurred by a surge of imports. What was likely happening to income in the U.S. economy? LO3

Macroeconomics

David Colander 8th Edition

Chapter 20, Problem 12

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Step 1

The trade gap, or trade deficit, occurs when a country's imports exceed its exports. This means that the country is buying more goods and services from abroad than it is selling to other countries. Show more…

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From 2001 through 2008 , the U.S. trade gap widened, spurred by a surge of imports. What was likely happening to income in the U.S. economy? LO3

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