The following table shows a hypothetical current account statement for the Unite

Question

The following table shows a hypothetical current account statement for the United States; all figures are in billions of dollars Debits (S, billions) Current account entry U.S. Goods Exports Credits (S, billions) +300 S. Goods Imports S. Service Exports S. Service Imports 240 +252 204 Income Receipts from Abroad Income Payments to Foreigners Unilateral Current Transfers, Net +390 369 -498 Given these data, the balance of trade in goods and services is billion. S0 S50 +$50 $108 +$108 Moving to another question will save this response Question 5

Explanation / Answer

Answer.) The trade balance in goods and services is +$108 billion.

trade balance = +300 - 240 +252 - 204 = +$108 Billion.

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