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:
Results and Aftermath of World War II. After the end of the war, a conference was held in Potsdam, Germany, to set up peace treaties. The countries that fought with Hitler lost territory and had to pay reparations to the Allies. Germany and its capital Berlin were divided into four parts.
Explanation:
Answer:
Every good friend once was a strange
Answer: They forced the government to address problems.
Explanation:
That English speaking nation was Australia.
