Question

Suppose there are three countries in the world. Country A exports $5 million worth of goods...

Suppose there are three countries in the world. Country A exports $5 million worth of goods to country B and $10 million worth of goods to country C; country B exports $15 million worth of goods to country A and $10 million worth of goods to country C; and country C exports $12 million worth of goods to country A and $18 million worth of goods to country B.

What are the total exports of countries A, B and C respectively?

Total exports of Country A = $   million

Total exports of Country B = $   million

Total exports of Country C = $   million

What are the total imports of countries A, B and C respectively?

Total imports of Country A = $   million

Total imports of Country B = $   million

Total imports of Country C = $   million

What are the net exports of countries A, B, & C respectively?

Net exports of Country A = $   million

Net exports of Country B = $   million

Net exports of Country C = $   million

County A is running a trade   (deficit, surplus).

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Answer #1

------> According to the given information, A 's total exports = $15mn and imports = $27mn; B's total exports = $25mn and imports = $23mn; C's total exports= $30mn and imports = $20mn.

1) Total exports for Country A ,B and C are $15, $25 and $30 million respectively.

2) Total imports for Country A ,B and C are $27, $23 and $20 million respectively.

3) Net exports for Country A ,B and C are -$12, $2 and $10 million respectively.

4) Country A is running trade deficit due to negative trade balance.

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