Answered step by step
Verified Expert Solution
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
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