If the United States Is Running Persistent Trade Deficits Now

question 29

Multiple Choice

If the United States is running persistent trade deficits now, it:

• A) must make loans to the rest of world.
• B) is expected to run trade surpluses at some point in the future.
• C) is expected to run trade surpluses now.
• D) must increase its money supply to buy imports.
• E) must run a government budget deficit.

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Definitions:

Contract Law

The branch of law dealing with the formation, interpretation, and enforcement of contracts.

Uniform Commercial Code (UCC)

The UCC codifies and harmonizes trade laws across the United States, facilitating interstate commerce.

Convention on Contracts

Refers to international treaties or conventions that lay down rules for contracts, particularly in international trade, such as the United Nations Convention on Contracts for the International Sale of Goods (CISG).

Revoke the Offer

The act of withdrawing a proposal that was previously presented to another party before it has been accepted.