The “Trade Deficit” is a Misnomer (opens in new tab)

The United States, like most other countries, use a method of double-entry accounting to track certain aggregate statistics known as National Income Accounting. One of the statistics tracked is the balance of trade. The balance of trade reports the difference between imports and exports. When imports exceed exports, we are said to have a trade […] The post The “Trade Deficit” is a Misnomer appeared first on Econlib.