During the 1960s and 1970s,the U

Question 129
Multiple Choice

During the 1960s and 1970s,the U.S.trade balance was close to zero,but during the 1980s,the trade deficit ballooned to unprecedented levels due to: A)an inability of U.S.companies to compete in the international market. B)a decline in private saving that resulted from an upsurge in consumption. C)a decline in national saving caused largely by rapidly rising government budget deficits. D)a worldwide recession that made it difficult for American companies to sell their products abroad.