select the correct answer.\nin a given year, us exports were $5 billion and imports were $16 billion. what…

select the correct answer.\nin a given year, us exports were $5 billion and imports were $16 billion. what was the us trade deficit or trade surplus that year?\na. $11 billion deficit\nb. $5 billion deficit\nc. $9 billion surplus\nd. $10 billion surplus

select the correct answer.\nin a given year, us exports were $5 billion and imports were $16 billion. what was the us trade deficit or trade surplus that year?\na. $11 billion deficit\nb. $5 billion deficit\nc. $9 billion surplus\nd. $10 billion surplus

Answer

Explanation:

Step1: Define trade balance formula

Trade - balance=Exports - Imports

Step2: Substitute values

Exports = 5 billion, Imports = 16 billion. So, Trade - balance=5 - 16=- 11 billion.

Step3: Interpret result

A negative trade - balance indicates a trade deficit. The value of the deficit is $11$ billion.

Answer:

A. $11$ billion deficit