View the data on the trade balance below. Then answer the questions that follow. Is the United States currently in a trade deficit or a trade surplus situation?What is the most recent amount of deficit or surplus?There’s a time between July 2008 and February 2009 when the value of the trade deficit changed substantially. Did the trade deficit increase or decrease during this time? FRED-20,000Millions of Dollars-30,000-40,000-50,000-60,000-70,000Trade Balance: Goods and Services, Balance of Payments Basis20052006www200720082009

(1). The United States is currently in a trade deficit situation because the values of trade balance…

Answered: View the data on the trade balance…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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View the data on the trade balance below. Then answer the questions that follow.

Is the United States currently in a trade deficit or a trade surplus situation?
What is the most recent amount of deficit or surplus?
There’s a time between July 2008 and February 2009 when the value of the trade deficit changed substantially. Did the trade deficit increase or decrease during this time?

FRED
-20,000
Millions of Dollars
-30,000
-40,000
-50,000
-60,000
-70,000
Trade Balance: Goods and Services, Balance of Payments Basis
2005
2006
www
2007
2008
2009

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