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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.

Mathematics
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you have to find the cost of importing or exporting. i think?
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
We know the 2nd and 4th answers are wrong for sure.

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Other answers:

ok i see
ya...i agree..i think its the first one too..
first one...alright
whats the difference between trade deficit and balance of payments deficit
not really sure
then its either a or c
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).
~~I may be wrong on that, but I googled the definitions and from what I'm understanding it would be c.
http://en.wikipedia.org/wiki/Balance_of_trade
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.

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