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Chapter 19: Problem 11

Our biggest annual trade deficit in our history was more than billion. a) \( 300\) d) \( 600\) b) \( 400\) e) \( 700\) c) \( 500\)

Short Answer

Expert verified
(d) \(600\) billion

Step by step solution

01

Research the Biggest Annual Trade Deficit in History

To find the correct answer, we need to research the biggest annual trade deficit in history. According to data provided by the U.S. Census Bureau and the Bureau of Economic Analysis, the United States had its largest trade deficit in its history in the year 2018, with a deficit value of $621 billion.
02

Match the Researched Value with the Given Options

Now we have the researched value of the biggest annual trade deficit: \(621\) billion. Let's match this value with the options provided in the exercise: a) \(300\) billion b) \(400\) billion c) \(500\) billion d) \(600\) billion e) \(700\) billion Since \(621\) billion is in between \(600\) billion and \(700\) billion, the closest option to the actual value is \(600\) billion, which corresponds to option (d). The correct answer to the exercise is: (d) \(600\) billion.

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