In 2015, U

question 29

Multiple Choice

In 2015, U.S. exports of services U.S. imports of services by about .

• A) exceeded; $20 B
• B) fell short of; $20 B
• C) exceeded; $220 B
• D) fell short of; $220 B

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Definitions:

Unilateral Approach

A strategy or action taken by a single nation or entity independently, without coordination with others.

Free Trade

Free Trade is a policy where governments do not discriminate against imports or interfere with exports, allowing goods to move freely between countries.

North American Free Trade Agreement

A trade agreement between Canada, Mexico, and the United States designed to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace.

No-Trade Situation

A theoretical scenario where no trade occurs either because of complete self-sufficiency or prohibitive trade barriers.