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Silverskaden

Which of the following statements would be true if the United States exported $3 billion worth of goods and services and imported $5 billion? It would run a trade deficit of $2 billion. It would run a trade surplus of $2 billion. It would run a balance of payments deficit of $2 billion. It would run a balance of payments surplus of $2 billion.

  • 2 years ago
  • 2 years ago

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  1. mr.luna
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    you have to find the cost of importing or exporting. i think?

    • 2 years ago
  2. dhatraditya
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    this means that the US trade exports only $3billion worth of goods and imports $5 billion of goods. This means that there is a trade deficit in the US worth $2 billion

    • 2 years ago
  3. Emerald
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    We know the 2nd and 4th answers are wrong for sure.

    • 2 years ago
  4. Silverskaden
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    ok i see

    • 2 years ago
  5. nppbleh789
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    ya...i agree..i think its the first one too..

    • 2 years ago
  6. Silverskaden
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    first one...alright

    • 2 years ago
  7. mr.luna
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    whats the difference between trade deficit and balance of payments deficit

    • 2 years ago
  8. Silverskaden
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    not really sure

    • 2 years ago
  9. mr.luna
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    then its either a or c

    • 2 years ago
  10. Emerald
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    The correct answer is c.) "It would run a balance of payments deficit of $2 billion." A balance of payments deficit basically means that you are spending more than you have in trade/exports. I.E. You are bringing importing more than you export. (value-wise).

    • 2 years ago
  11. Emerald
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    ~~I may be wrong on that, but I googled the definitions and from what I'm understanding it would be c.

    • 2 years ago
  12. dhatraditya
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    http://en.wikipedia.org/wiki/Balance_of_trade

    • 2 years ago
  13. dhatraditya
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    trade deficit relates only to the import and export. balance of payments deficit relates to import, export, as well as other monetary factors such as bonds, financial accounts, etc.

    • 2 years ago
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