Question

if a country has the exports of 8 billion and sold 40 billion of goods and...

if a country has the exports of 8 billion and sold 40 billion of goods and services abroad then it has:

a. 48 billion of imports and 40 billion of exports
b. 48 billion of exports and 40 billion of imports
c. 40 billion of imports and 32 billion of exports
d. 40 billion of exports and 32 billion of imports

please show me how you found this answer by showing work thank you.

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Answer #1

If a country has the exports of 8 billion and sold 40 billion of goods and services abroad then it has 40 billion of exports and 32 imports

let's understand why

Net exports are the difference of the country's total exports and the country's total imports. Net exports can be positive and negative, if net exports are positive then total exports are greater than total imports and if net exports are negative then total imports are greater than total exports

Net exports = Total exports - Total imports

Now in the above question

Net exports = 8 billion

Total exports = 40 billion

Net exports = Total exports - Total imports

8 billion = 40 billion - Total imports

Total imports = 32 billion

Hence option D is correct

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