Question

In 2009, global merchandise exports and global commercial services exports:

A. Declined for the first time since 1983

B. Nearly doubled

C. Remained fairly consistent

D. Decreased by almost 50 percent

Answer 1

In 2009, global merchandise exports and global commercial services exports declined for the first time since 1983 due to the global recession, which led to reduced U.S. imports and a smaller decline in U.S. exports.

Step-by-step explanation:

In 2009, global merchandise exports and global commercial services exports declined for the first time since 1983. This decline was largely due to the global recession that began in 2008, leading to a slow down in economies across the world. As a point of comparison, the U.S. trade deficit, as illustrated in educational resources, declined by almost half from 2006 to 2009. This change was attributed to a reduction in U.S. imports because of the recession, as buying power in the U.S. economy decreased, and there was less demand for goods imported from abroad.

However, because the buying power abroad did not fall as significantly, U.S. exports did not experience as substantial a decline.