Question

Over the last several decades, the United States has usually had a trade surplus. a trade deficit. decreasing trade levels. balanced trade. When the U.S. 2008 recession began, the trade deficit decreased. increased the level of trade. increased. became a trade surplus. When net exports increase, a trade surplus becomes a trade deficit. GDP increases. imports exceed exports. GDP decreases.

Answer 1

Over the last several decades, the United States has usually had a trade deficit.

When the U.S. 2008 recession began, the trade deficit increased.

When net exports increase, GDP increases.

Trade deficit is when the import of an economy is greater than the export of the economy. Import are goods that are bought from foreign countries. Export are goods that are sold to foreign countries. As at August 2021, trade deficit in the United States was  $73.3 billion. This is higher than the forecasted amount of $70.5 billion.

During the 2008 recession, trade deficit increased by 3% to $920.7 billion.  One of the reasons for this was the increase in the price of crude oil which is a major consistent of import of the United States.

GDP calculated using the expenditure approach is : consumption + government spending + business spending + net export.

Net export = export - import.

If net export increases, GDP increases.

To learn more, please check: brainly.com/question/3651082?referrer=searchResults