Since the mid 1970s, the United States has _____.

Question

shifted from a flexible exchange rate system to a fixed rate

had a significant trade deficit

had a significant trade surplus

been the largest exporter of clothing in the world

Answer 1

Since the mid 1970s, the United States has had a significant trade deficit.

The U.S. has consistently run trade deficits since the 1970s, meaning it imports more goods and services than it exports.