The following table shows the approximate value of exports and imports for the U

Question

The following table shows the approximate value of exports and imports for the United States from 1968 through 1972. All values are in billions of dollars. In 1969, the United States ran a trade equal to Which of the following statements is correct? The United States ran consistent trade deficits from 1968 to 1972. The value of imports increased each year from 1968 to 1972. The United States ran a trade surplus in 1972. Of the years listed, the United States ran its largest trade surplus (in terms of dollars) in 1971. The exchange rate is the price of one currency in terms of another currency. An exchange rate specifies how many units of one country's currency equal one unit of another country's currency. Suppose the following table forecasts exchange rate data for May 21, 2014, in terms of U.S. dollars per unit of foreign currency. Use the information in the table to answer the questions that follow.

Explanation / Answer

1. Surplus

2. 1.4 billion

3. The vaalue of Imports Increased each year from 1968 to 72

4. 1029.60

5 Increases

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