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If a country's trade deficit is $200 billion and it exports $300 billion, what i

Practice Questions

Q1
If a country's trade deficit is $200 billion and it exports $300 billion, what is the total trade value? (2023)
  1. $500 billion
  2. $400 billion
  3. $600 billion
  4. $700 billion

Questions & Step-by-Step Solutions

If a country's trade deficit is $200 billion and it exports $300 billion, what is the total trade value? (2023)
  • Step 1: Identify the amount of exports, which is $300 billion.
  • Step 2: Identify the trade deficit, which is $200 billion.
  • Step 3: To find the total trade value, add the exports and the trade deficit together.
  • Step 4: Calculate the total trade value: $300 billion (exports) + $200 billion (trade deficit) = $500 billion.
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