Which of the following is true about the trade imbalance in the United States?Multiple ChoiceThe United States has not had a trade surplus since 1975.All of these are true: The United States has not had a trade surplus since 1975; over the past decade, the U.S. trade deficit has exceeded $300 billion every year; and the United States has the largest trade deficit of the top three economic centers.None of these answers are correct.The United States has the largest trade deficit of the top three economic centers.Over the past decade, the U.S. trade deficit has exceeded $300 billion every year.

According to the Switzerland-based World Economic Forum,Multiple Choicethe United States has had trade surpluses more than deficits in recent years.the United States has never had a trade surplus.the United States is a larger market than the European Union and the Pacific Rim combined.the United States has the most favorable balance of trade in the world.the United States is economically more competitive than its major rivals.

Multiple Select QuestionSelect all that applyWhich of the following have contributed to large U.S. trade deficits over the past 20 years?Multiple select question.The Great Recession of 2007-2009The large trade imbalance the United States has with ChinaThe U.S. economy growing more rapidly than those of its trading partnersThe weakness of the U.S. currency relative to its trading partners

Multiple Choice QuestionWhich of the following describes a scenario where U.S. imports of goods and services exceeds U.S. exports of goods and services?Multiple choice question.A trade balanceA trade surplusA trade deficitA balance of trade

Multiple Choice QuestionWhat has occurred in the economic relationship between the United States and China as a result of the United States being China's largest export market and China's standard of living not increasing enough for its citizens to afford large quantities of U.S. goods and services?Multiple choice question.Large trade deficitsLarge budget surplusesPositive balance of paymentsLarge trade surpluses

Multiple Choice QuestionIn a given year, if U.S. exports total $2.5 billion and U.S. imports total $3.5 billion, what is the balance of trade on goods for that year?Multiple choice question.A $6 billion deficitA $6 billion surplusA $1 billion surplusA $1 billion deficit