In 1971, for the first time in the twentieth century, the united states experienced a merchandise trade deficit. group of answer choices true false

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24-08-2022
History

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In 1971, for the first time in the twentieth century, the united states experienced a merchandise trade deficit. group of answer choices true false

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Vickynehra Vickynehra · Answer 1 · 2022-09-04T12:36:28-04:00

In 1971, for the first time in the twentieth century, the united states experienced a merchandise trade deficit is true.

The Bureau of the Census also reported that the United States experienced its first trade deficit (total of all exports minus total of all imports) of the twentieth century in 1971, with a trade deficit of approximately $1.5 billion.

For the most part, this condition continued throughout the 1980s, 1990s, and into the twenty-first century .

Balance of trade (BOT) is the difference between the value of a country's exports and the value of a country's imports for a given period.

To know more about Balance of trade here

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