Question

In a given year, US exports were $5 billion and imports were $16 billion. What was the US trade deficit or trade surplus that year? $11 billion deficit $5 billion deficit $9 billion surplus $10 billion surplus

Answer 1

Answer:

American trade deficit that year was of $11 billion.

Explanation:

The question refers to the result of the trade balance of the year in question. If the total of expenditures for imports is greater than the income from exports, there is a deficit in the trade balance. Conversely, if export earnings are greater than import expenditures, there is a surplus in the trade balance.

In the case, having spent $16 billion, and only having entered 5 billion dollars, the final result is a deficit of 11 trillion dollars in the trade balance.

Answer 2

16 Billion-5 billion=11 Billion Dollars