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People Window Help Aplia ent QuestionX s.aplia.com/af/servlet/quiz?quiz action takeQuiz&quiz; probGuid QNAPCOA801010000003024 Cloud Attempts: Average: S 10. International trade The following 1977. All values are in billions of dollars. table shows the approximate value of exports and imports for the United States from 1973 Year 1973 1974 1975 1976 1977 Exports (Billions of $) 91.2 120.9 132.6 142.7 152.3 Imports (Billions of s) 89.3 125.2 120.2 148.8 79.5 GDP (Billions of $) 1,383 1,500 1,638 1,825 2,031 Source: u.s Departmere of Co equal to-$1.9 birn $2.4 billion $91.2 billion $89.3 billion $1.9 billion In 1973, the United States ran a trade surplus on the graph, plot the values of exports and imports a billion the years 1973 through :9 he years 1973 through 19 GDP to the nearest tenth the orange points (square symbol) to plot the value of ex percent. (For example, a value of 5.55% rounds to 5.6%.) Use the green points (triangle symbol) to plot th imports as a percentage of GDP, also to the nearest tenth of a percent. Line segments will connect t automatically he point EXPORTS AND IMPORTS IPercentage of GDP Exports

Explanation / Answer

Trade surplus is occurs when export exceeds imports.Hence, in 1973 the export exceeds by $1.9 billion (export-import = 91.2-89.3 = 1.9)

In 1973, the United States ran a trade surplus equal to $1.9 billion.

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