The answer is: United States would have a deficit of $11 billion in the given year.
A trade surplus occurs when a country exports more than it imports. On the other hand, a deficit is when a country imports more products than it exports.
In the above example, the United States is exporting only $5 billion of goods but importing $16 billion of products. This means that the total trade deficit in the example is 16-5 = $11 billion.
This actually represents the current situation of the United States where it has a significant trade deficit with many major economies in the world, most noticeably with China.
Answer:The first step of the problem solving process is to identify and define the problem. The second step, which is to analyze the problem, involves gathering information, sorting through relevant and irrelevant information, and evaluating the source of the problem by asking the Five W's: who, what, where, when, and why. The third step is to generate a broad range of solutions by using the brainstorming process. The fourth step, which is to select and plan the solution, involves evaluating each solution, eliminating all the solutions until one remains, and creating a plan of action for the solution. The fifth step of the problem solving process is to implement the solution. Last but not least, one should evaluate and monitor the solution's progress.
Explanation:
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The Allied strategy for winning World War II was they planned to retake North Africa to invade through Italy, invade France from Britain and Germany from the Soviet Union, and then combine forces to defeat Japan.
