The following table shows the balance of payments statement for the hypothetical nation of Zabella for 2014.All the figures are in billions of dollars. Refer to the above data.Zabella's balance on goods and services shows a:
A)$5 billion deficit.
B)$5 billion surplus.
C)$10 billion surplus.
D)$15 billion deficit.

Question

The following table shows the balance of payments statement for the hypothetical nation of Zabella for 2014.All the figures are in billions of dollars.  Refer to the above data.Zabella's balance on goods and services shows a:
A)$5 billion deficit. 
B)$5 billion surplus. 
C)$10 billion surplus. 
D)$15 billion deficit.

Quizplus · Accepted Answer

Zabella's balance on goods and services is calculated as Exports - Imports, which in this case is ($55 billion + $20 billion) - ($45 billion + $25 billion) = $5 billion surplus.

The Following Table Shows the Balance of Payments Statement for the Hypothetical