Assume a small open economy's domestic output (Y) is $750 million, its domestic spending is $850 million, and total imports are $350 million. Therefore, the country runs a trade ________, and total exports are ________.a.deficit; $250 millionb.deficit; $50 millionc.surplus; $50 milliond.surplus; $250 million

If a country’s annual imports are $500 billion and its exports are $200 billion, the difference between the two representsMultiple Choicethe budget deficit.the country’s gross domestic product.the balance of trade.the country’s capital gains.

Question 8 of 10A country imports goods and services worth $700 million and exports goods and services worth about $500 million. This means that the country has a(n) _____.A.trade deficitB.absolute advantageC.comparative advantageD.trade surplus

In a small open economy, if exports equal $12 billion and imports equal $18 billion, then there is a trade____and _____ net capital outflow.A.deficit; positive.B.deficit; negative.C.surplus; positive.D.surplus; negative.

If GDP (measured in billions of current dollars) is $5,465 and the sum of consumption, investment, and government purchases is $5,496, while exports equal $673, imports are:

Consider the following figures: the GDP of an economy is $300 billion, household consumption is $85 billion, government spending is $140 billion, investments are $50 billion and total imports are $100 billion. What will be the value of total exports?$125 billion$75 billion$25 billion$50 billion