If USExports Are $150 Billion and U

question 134

Multiple Choice

If U.S.exports are $150 billion and U.S.imports are $100 billion,which of the following is correct?

• A)The U.S.has a trade surplus of $100 billion.
• B)The U.S.has a trade surplus of $50 billion.
• C)The U.S.has a trade deficit of $100 billion.
• D)The U.S.has a trade deficit of $50 billion.

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Definitions:

Reciprocity Norm

A social norm dictating that people should repay, in kind, what another person has provided or done for them, fostering mutual cooperation and social bonds.

Free Gift

An item or service given without charge to a customer as an incentive or as part of a promotional strategy.

Christmas Ornament

Decorative items, often intricate and festive, used to adorn Christmas trees during the holiday season.

Noncompetitive Contact

Interaction between individuals or groups that does not involve rivalry or competition, often leading to cooperation or peacebuilding.