Question

(Part 1) If Malaland exports $59 billion in goods to Bursia, and Malaland imports $42 billion of goods from Bursia , what is the goods trade balance for Malaland? $ ____ billion What is the best way to describe Malaland's goods trade balance? (Part 2) If Malaland exports $44 billion in services to Bursia, and imports $49 billion of services from Bursia, what is the services trade balance for Malaland? $______ billion What is the best way to describe Malaland's services trade balance? (Part 3) What is the overall balance of trade for Malaland if it exports $44 billion in services and $59 billion in goods while importing $49 billion in services and $42 billion in goods? $_____ billion What is the best way to describe Malaland's overall trade balance?

Answer 1

Answer:

Explanation:

Trade balance formula = Country’s Exports – Country’s Imports.

If Malaland exports $59 billion in goods to Bursia, and Malaland imports $42 billion of goods from Bursia , what is the goods trade balance for Malaland? $ 17 billion

What is the best way to describe Malaland's goods trade balance?

It is a positive trade balance; good's exports are greater than good's imports. Malaland companies will receive more capital and this can translate into a higher standard of living for the Malaland population.

If Malaland exports $44 billion in services to Bursia, and imports $49 billion of services from Bursia, what is the services trade balance for Malaland? $-5 billion.

What is the best way to describe Malaland's services trade balance?

It is a negative trade balance; service's imports are greater than service's exports. This could lead to protectionist measures that in the long run increases consumer prices, reducing living standards of Malaland population.

What is the overall balance of trade for Malaland if it exports $44 billion in services and $59 billion in goods while importing $49 billion in services and $42 billion in goods? $12 billion

What is the best way to describe Malaland's overall trade balance?

It is a positive overall trade balance. Even though, there are more services imports than exports, good exports are greater than good's imports. Malaland companies will receive more capital  and this can translate into a higher standard of living for the Malaland population.