If a Country Experiences a Huge Deficit in the Current

question 9

True/False

If a country experiences a huge deficit in the current account it is thought to result in the 'exporting of jobs.'

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Definitions:

Recession

A spell of economic retrenchment characterized by a reduction in manufacturing and trade activities, typically signified by two successive quarters of GDP decline.

Inflation

How quickly the average cost of goods and services goes up, resulting in a decrease in the ability to purchase.

Economic Growth

A rise in the output of goods and services in an economy over a certain period, frequently assessed using GDP.

Federal Budget Deficit

The financial situation where the federal government's expenditures exceed its revenues within a given fiscal year.