1. Imports, exports, and the trade balance The following table shows the approxi
ID: 1112905 • Letter: 1
Question
1. Imports, exports, and the trade balance The following table shows the approximate value of exports and imports for the United States from 1983 through 1987. Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth. Exports (Billions of dollars) 277.0 302.4 302.0 320.3 363.8 GDP Exports-Imports Imports (Billions of dollars) 328.6 405.1 417.2 452.9 508.7 (Billions of dollars) (Percentage of GDP) Year (Billions of dollars) 1983 1984 1985 1986 1987 3,535.0 3,931.0 4,218.0 4,460.0 4,736.0 Source: Income, Expenditures, Poverty, & Wealth Gress Domestic Product (ODP). United States Consus Breau, United States Department of Commence, last modfied September 2011.ccsed June 10, 2013, https//www.census-gov/lbrary/publications/2011/compendia/statab/131ed/in Between 1985 and 1986, the in dollar terms and as a percentage of GDP.Explanation / Answer
Ans:
Table showing the surplus or deficit in terms of dollars and as a percentage of GDP
Between 1985 and 1986 , the deficit is 132.6 in dollar terms and 2.97 as a percentage of GDP.
Year GDP($) Exports($) Imports($) Exports - Imports(Dollars) Exports-Imports(Percentage of GDP) 1983 3,535 227 328.6 -51.6 1.46% 1984 3931 302.4 405.1 -102.7 2.61% 1985 4218 302 417.2 -115.2 2.73% 1986 4460 320.3 452.9 -132.6 2.97% 1987 4736 363.8 508.7 -144.9 3.06%Related Questions
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