Show graphically how an increase in US government spending affects the US trade deficit.

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Economics

Show graphically how an increase in US government spendingaffects the US trade deficit.

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A trade deficit occurs when a nation importsmore than it exports For instance in 2018 the United Statesexported 2500 trillion in goods and services while it imported3121 trillion leaving a trade deficit of 621 billion Servicessuch as tourism intellectual property and finance make uproughly onethird of exports while major goods exported includeaircraft medical equipment refined petroleum and agriculturalcommodities Meanwhile imports are dominated by capital goodssuch as computers and telecom equipment consumer goods such asapparel electronic devices and automobiles and crude oil Thedeficit in goods at 891 billion is higher than the overalldeficit since a portion of the goods deficit is offset by thesurplus in services tradeThe balance of imports and exports or the trade balance ispart of the broader measure of the US economys transactions withthe rest of the world known as See Answer

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Show graphically how an increase in US government spending affects the US trade deficit.

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Economics

Show graphically how an increase in US government spendingaffects the US trade deficit.

Answer & Explanation Solved by verified expert

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