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All of the following statements about the U.S. balance of trade since 1971 are true, except:

Select the correct answer below:
A. Starting in the 1980s, the U.S. trade deficit increased rapidly.
B. The current account U.S. trade deficit grew larger in the late 1990s and into the mid-2000s.
C. The U.S. trade deficit declined in 2009 after the recession.
D. The U.S. has not experienced a trade surplus since 1971.



Answer :

GinnyAnswer

Final answer:

The U.S. balance of trade shifted from surpluses to deficits starting in the 1980s but showed fluctuations in later years.


Explanation:

The U.S. balance of trade since 1971 is characterized by a shift from small surpluses into increasing deficits beginning in the 1980s, with a brief surplus in 1991 followed by larger deficits in the late 1990s and mid-2000s. The deficit decreased in 2009 after a recession but rebounded partially in 2010 and remained stable thereafter.


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