Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 0.20 The balance of trade was $ ___________ trillion. Use negative sign, if needed. Do not include the $ symbol in your response. Answer for part 2 0.30 The current account balance was $ ___________ trillion. Use negative sign, if needed. Do not include the $ symbol in your response. Answer for part 3 -0.40

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics And The Environment A Materials Balance Approach

Authors: Allen V Kneese, Robert U Ayres, Ralph C D'Arge

1st Edition

1317402251, 9781317402251

More Books

Students also viewed these Economics questions

Question

How easy the information is to remember

Answered: 1 week ago

Question

The personal characteristics of the sender

Answered: 1 week ago

Question

The quality of the argumentation

Answered: 1 week ago