During the 1960s and 1970s, the U

Multiple Choice

During the 1960s and 1970s, the U.S. trade balance was close to zero, but during the 1980s, the trade deficit ballooned to unprecedented levels due to:

A) an inability of U.S. companies to compete in the international market.
B) a decline in private saving that resulted from an upsurge in consumption.
C) a decline in national saving caused largely by rapidly rising government budget deficits.
D) a worldwide recession that made it difficult for American companies to sell their products abroad.