Question
Imports, exports, and the trade balance. The following table shows the approximate value of exports and imports for the United States from 2006 through 2010.
Imports, exports, and the trade balance.
The following table shows the approximate value of exports and imports for the United States from 2006 through 2010.
Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round the answers to the nearest hundredths.
| GDP | Exports | Imports | Exports-Imports | ||
|---|---|---|---|---|---|
| Year | (Billions of dollars) | (Billions of dollars) | (Billions of dollars) | (Billions of dollars) | (Percentage of GDP) |
| 2006 | 13,399.0 | 1,471.0 | 2,240.3 | ||
| 2007 | 14,062.0 | 1,661.7 | 2,375.7 | ||
| 2008 | 14,369.0 | 1,843.4 | 2,553.8 | ||
| 2009 | 14,119.0 | 1,578.4 | 1,964.7 | ||
| 2010 | 14,660.0 | 1,837.5 | 2,353.9 | ||
Step by Step Solution
3.47 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Issues in Economics Today
Authors: Robert C. Guell
8th edition
1259746399, 1259746390, 978-1259746390
