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Suppose that during a recent year, for Canada, merchandise imports were $2 trillion, net secondary income was $0.3 trillion, service exports were $0.5 trillion, service
Suppose that during a recent year, for Canada, merchandise imports were $2 trillion, net secondary income was $0.3 trillion, service exports were $0.5 trillion, service imports were $0.4 trillion, net primary income was $0.4 trillion, the capital account balance was $0, and merchandise exports were $1.8 trillion. The merchandise trade deficit was $__________trillion. Note: the word deficit has been used, so no need for a negative sign. Do not include the $ symbol in your response. Answer for part 1 The balance of trade was $ ___________ trillion. Use negative sign, if needed. Do not include the $ symbol in your response. Answer for part 2 The current account balance was $ ___________ trillion. Use negative sign, if needed. Do not include the $ symbol in your response. Answer for part 3
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