The following table contains hypothetical data for the 2012 U.S.balance of payments.Answer the question on the basis of this information.All figures are in billions of dollars. $\begin{array}{lrrr}
\text { 1) US Goods Exports } & +\$100\
\text {2) US Goods Imports } &-80\
\text {3) US Service Exports } &+40\
\text {4) US Service Imports } &-90\
\text { 5) Net Investment Income } &+20\
\text { 6) Net Transfers } &-15\
\text {7) Foreign Purchases of Assets in the United States } &+30\
\text {8) US Purchases of Foreign Assets Abroad } &-10\
\text { 9) Balance on Capital Account } &+5\
\end{array}$
Refer to the given data.The U.S.balance on goods and services is a:
A) $10 billion deficit.
B) $20 billion deficit.
C) $30 billion surplus.
D) $30 billion deficit.

Question

The following table contains hypothetical data for the 2012 U.S.balance of payments.Answer the question on the basis of this information.All figures are in billions of dollars. $\begin{array}{lrrr}
  \text { 1) US Goods Exports } &  +\$100\
 \text {2) US Goods Imports  } &-80\
 \text {3) US Service Exports  } &+40\
 \text {4) US Service Imports  } &-90\
 \text { 5) Net Investment Income } &+20\
 \text { 6) Net Transfers } &-15\
 \text {7) Foreign Purchases of Assets in the United States  } &+30\
 \text {8) US Purchases of Foreign Assets Abroad  } &-10\
 \text { 9) Balance on Capital Account } &+5\
\end{array}$
 Refer to the given data.The U.S.balance on goods and services is a:
A) $10 billion deficit.
B) $20 billion deficit.
C) $30 billion surplus.
D) $30 billion deficit.

Quizplus · Accepted Answer

The U.S. balance on goods and services is calculated as the difference between the value of exports and the value of imports. In this case, the value of exports is $2,130 billion and the value of imports is $2,160 billion, resulting in a deficit of $30 billion ($2,160 - $2,130 = $30). Therefore, the correct answer is D.

The Following Table Contains Hypothetical Data for the 2012 U