If the U.S.has exports of $1.5 trillion and imports of $2.2 trillion,then the U.S.
A)sells more overseas then it buys from overseas;it has a trade deficit.
B)sells more overseas then it buys from overseas;it has a trade surplus.
C)buys more from overseas then it sells overseas;it has a trade deficit.
D)buys more from overseas then it sells overseas;it has a trade surplus.

Question

Quizplus · Accepted Answer

The U.S. has imports of $2.2 trillion, which exceeds its exports of $1.5 trillion. This means the U.S. is buying more from overseas than it is selling overseas, resulting in a trade deficit. Therefore, option C is correct. Options A and B are incorrect because they describe a trade surplus, which is the opposite of what is happening in this scenario. Option D is incorrect because it describes a trade surplus, which is not the case.

If the USHas Exports of $1