Question

Since the mid 1970s, the United States has

A. Shifted from a flexible exchange rate system to a fixed rate

B. Had a significant trade deficit

C. Had a significant trade surplus

D. Been the largest exporter of clothing in the world

Answer 1

Since the mid 1970s, the United States had a significant trade deficit.

Step-by-step explanation:

The U.S had undergone a trade deficit since the 1970s. This has been contributed to the fact that they have been importing way more supplies and goods than the other countries were buying from the Americans. These imports have affected the native industries. Also, the demand for American products went down drastically and thus contributing to the deficit.

While Europe and Great Britain undertook industrialization in the 18th century, Americans started it in the 19th century-this delay resulted in the US depending upon imported goods and also in US struggling to meet Europe's levels of export.