A country purchases $3 billion of foreign-produced goods and services and sells $2 billion dollars of domestically produced goods and services to foreign countries. It has
a. exports of $3 billion and a trade surplus of $1 billion.
b. exports of $3 billion and a trade deficit of $1 billion.
c. exports of $2 billion and a trade surplus of $1 billion.
d. exports of $2 billion and a trade deficit of $1 billion.
d
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On December 29th, the cost of a skiing trip to Finse, Norway, was 6,500 krone. Two weeks later, the American dollar appreciated against the Norwegian krone. If the price of the trip in Norway remains the same, _____
a. an American skier living in Florida will now view this trip as cheaper compared to before b. an American skier living in Florida will now view this trip as highly expensive compared to before c. an American skier living in Florida will now view this trip as of the same value as before d. an American skier living in Florida will now value this trip less as compared to before e. an American skier living in Florida will no longer take this trip
The Board of Governors:
A. are experts in banking, finance, and monetary policy. B. are appointed by the U.S. president and confirmed by the Senate to 14 year terms. C. Both these are true. D. Neither of these are true.