If U.S.exports are $300 billion and U.S.imports total $350 billion,which of the following is correct?
A)The U.S.has a trade surplus of $350 billion.
B)The U.S.has a trade surplus of $50 billion.
C)The U.S.has a trade deficit of $350 billion.
D)The U.S.has a trade deficit of $50 billion.

Question

Quizplus · Accepted Answer

Trade surplus occurs when a country exports more than it imports, while a trade deficit occurs when a country imports more than it exports. Given that the U.S. exports $300 billion and imports $350 billion, it means that the U.S. has imported $50 billion more than it has exported, therefore, the U.S. has a trade deficit of $50 billion. The correct choice is D.

If USExports Are $300 Billion and U