Which Statement Is True

question 103

Multiple Choice

Which statement is true?

• A)Nations should strive for self-sufficiency.
• B)The U.S.balance of trade has always been positive.
• C)Our biggest trade deficit was a little over $150 billion.
• D)Our balance of trade turned negative in the mid-1970s.

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Definitions:

Overseas Investments

Financial investments made by individuals or companies in foreign countries to acquire assets, stocks, or interests in foreign enterprises.

Welfare Capitalism

An approach to labor relations in which companies provide their employees with social welfare services such as pensions, healthcare, and housing; it gained popularity in the early 20th century in the industrialized Western world.

Big Business

Large-scale or major corporations and enterprises that have significant influence on the economy, often with considerable power and resources.

Debt

A sum of money that is owed or due.