Statement I: Our trade defi cit, although still high, is lower than it was fi ve years
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Statement I: Our trade defi cit, although still high, is lower than it was fi ve years ago.
Statement II: Taken together, our imports and exports are over one-quarter of our GDP. (LO3)
a) Statement I is true, and statement II is false.
b) Statement II is true, and statement I is false.
c) Both statements are true.
d) Both statements are false.
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