Question

recall that the difference between a country's exports and imports is called the country's trade balance. suppose last year the United states had $968 billion in exports and $1658 billion in imports. what would be the u.s. trade balance for that year?​

Answer 1

Let's call trade balance b, exports e and imports i.

We now construct formula.

$b=\Delta{ei}=e-i$

Put in the data from last year.

$b=968-1658=\boxed{-690}$

U.S trade balance for that year is -690 billion dollars.