Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

The United States has a trade deficit of $11 billion with Canada. Which statement describes US trade with Canada?

The US exports more to Canada than it imports from Canada.
The US imports more from Canada than it exports to Canada.
The US and Canada both import more than they export.
The US and Canada both export more than they import.

Sagot :

caydenkhang

Answer:

B

The US imports more from Canada than it exports to Canada.

Explanation:

The United States has a trade deficit of $11 billion with Canada. This means that, The US imports more from Canada than it exports to Canada.  

What is Trade deficit?

A trade deficit is also known as net exports. It occurs when a country starts importing more than it should export. The calculation is simple as we have to just subtract the value of goods being imported from the value of the goods that are being exported.

A trade deficit can impact the stock market as it could be an indicator of the growth of the country that it is importing and needs more resources or it could be an indicator that the country is struggling to sell its goods internationally.

What is Imports?

Imports can be defined as the goods that were bought in one country while they were made in another country. It is a component of international trade. If the country has more imports than it has exports then it has a balance of trade or trade deficit.

The United States has been in a trade deficit since 1975.

What is Exports?

Exports are the goods or services of one country that sold to another. It is  also a component of international trade. if the country has more exports than it has imports then it has a trade surplus.

Exports are necessary as they offer firms and people a larger market to sell their goods and services internationally

Hence, option B is the correct answer

To learn more about trade deficit here,

https://brainly.com/question/16201575

#SPJ2

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.