Economics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 19, Problem 12CQ
To determine

Trade surplus as the implication of the strong economy.

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Both the United States and global economies are booming. Will U.S. imports and/or exports increase?
If imports exceed exports, is it a trade deficit or a trade surplus? What about if exports exceed imports?
If you observed a country with a rapidly growing trade surplus over a period of a year or so,would you be more likely to believe that the country's economy was in a period of recession or of rapid growth? Explain.
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