![]() ![]() In 2011 the United States imported almost half of its domestic consumption of petroleum products (figure 1) and ran a trade deficit in these products equal to 2.1 percent of GDP (figure 2). The US experience with oil confirms this view. ![]() If the trade balance is viewed as a problem, the United States must either save more or invest less. Trade policy cannot reduce the trade deficit. But as economists have tried to explain for years, trade deficits result when a country spends more in total than it produces, and since the US addiction to foreign borrowing is persistent, piecemeal efforts are unlikely to reduce the US trade deficit. Common sense seems to suggest that if America stopped importing oil, or erected new barriers to imports, or encouraged more domestic production, the trade deficit would shrink. The balance of payments was in deficit in 20, and in surplus in 20.Explaining why trade deficits occur is not easy. 2 ECONOMICS an amount by which the money that a government spends is more than it receives in tax in a particular period The budget did less to reduce public spending and the deficit than many bankers and businessmen would have liked. From Longman Business Dictionary deficit def‧i‧cit / ˈdefɪsɪt / written abbreviation def noun 1 COMMERCE an amount of money that a business has lost in a particular period of time Last year the university ran up a deficit of £17 million, but this year it has nearly succeeded in balancing the books. With anticipated revenue of taka105,500 million, the budget deficit would be taka77,300 million.To keep the budget deficit down, the government proposed to sell off shares and property valued at around 1,000 million kroner.But pressure to eliminate the budget deficit, said Vest, is likely to lead to diminished help from Washington.Nor can it be generated by easier fiscal policy because the budget deficit is already so high.The main cause of inflation was the overall public-sector budget deficit.That and the high price of oil have rekindled inflation and widened the government's budget deficit.Tax increases were introduced on a wide range of goods and services to help alleviate the projected budget deficit. ![]() The campaign also argues that Britain's trade deficit is unsustainable.These are the arctic fox and hen harrier assemblages, and there are three factors that suggest this deficit may be significant.Dole himself voted for tax hikes in 19 to reduce the deficit.Quinn explains that spending on roads and other infrastructure accounts for most of the deficit.But a spiraling deficit and weakened franc forced him to adopt austerity policies in 1983.The Chargers overcame a 13-point deficit to win 38-30.The balances on their operating statements can not be called profits or losses, rather they are called surpluses or deficits.If government does nothing, deficits expand rapidly.eliminate a deficit (=completely get rid of it ) His proposals have so far failed to eliminate the deficit. reduce/cut a deficit We must drastically cut our budget deficit to sustain economic growth. face a deficit The party is facing a deficit of £1.3million for this year, so it must find ways of cutting its costs. show a deficit Friday's trade figures showed a £10 billion deficit. verbs have a deficit We had a trade deficit of more than $4 billion. a trade deficit (=the difference between the amount of goods a country imports and the amount it exports ) Last year the country had its largest trade deficit in recent history. a budget deficit Last year there was a budget deficit of US $70,000,000. a growing deficit (=becoming bigger ) Congress must slash federal spending to curb a growing deficit. COLLOCATIONS ADJECTIVES/NOUN + deficit huge/massive (=very big ) The recession left the Government with a massive deficit. in deficit The US balance of payments was in deficit. ○○ noun NOT HAVE the difference between the amount of something that you have and the higher amount that you need → shortfall the country’s widening budget deficit the US’s foreign trade deficit deficit of a deficit of £2.5 million deficit in Many countries have a big deficit in food supply.From Longman Dictionary of Contemporary English deficit def‧i‧cit / ˈdefɪsɪt / ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |