Most countries, including the united states, import substantial amounts of goods and services from other countries. true or false: in the long run, a country's production of goods and services and the standard of living of its citizens are independent of each other because countries have the opportunity to import goods and services.

a. True

b. False

Question

Business

Jaylen Cooley

4 July, 11:19

Most countries, including the united states, import substantial amounts of goods and services from other countries. true or false: in the long run, a country's production of goods and services and the standard of living of its citizens are independent of each other because countries have the opportunity to import goods and services.

a. True

b. False

+2

Answers (1)

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Julianna · Answer 1

True. If a country is a substantial net importer, they are borrowing against future production of goods and services. If other countries don't believe that the importing country will eventually be able to produce those goods and services in the future, they won't export on credit in the first place.