can you reconcile these two facts.?

Question

most countries including the united states import substantial amounts of goods and services from other countries. yet ch 25 of mankiw's principles of economics (3rd edition) says that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself.

Answer 1

What's to reconcile? All countries do both. They import many things and they make many things themselves. Your two statements are not mutually exclusive. It's perfectly analogous to a person who works at a job during the day, then goes shopping in the evening.

Answer 2

Countries also export good and services, that is trade. In principle the exports=imports over the long run so there is no contradiction. The fact that for the US exports