(Table) According to the table, net exports of goods and services are equal to GDP Expenditures for 2010
A) $505.4 billion.
B) -$505.4 billion.
C) -$738.9 billion.
D) $738.9 billion.

Question

(Table) According to the table, net exports of goods and services are equal to GDP Expenditures for 2010 
A) $505.4 billion. 
B) -$505.4 billion. 
C) -$738.9 billion. 
D) $738.9 billion.

Quizplus · Accepted Answer

Net exports of goods and services are equal to the difference between exports and imports. In 2010, exports were $1,837.6 billion and imports were $2,343.0 billion. Therefore, net exports were -$505.4 billion, which means that the country imported more goods and services than it exported. This negative number indicates that the country had a trade deficit. Since net exports are a component of GDP Expenditures, the correct answer is B, -$505.4 billion.

(Table) According to the Table, Net Exports of Goods and Services