Only typed answer and give fast Question 3 01 14Macmillan LearningEConsider the hypothetical trade data presented in the accompanying table.BelizeMexicob. Which country is running a trade surplus?a. Given the data presented in the table, which countries have open economies?BelizeMexicoHondurasPanamaPanamaNationHondurasMexicoHondurasBelizePanamaImports (5)100100030Exports (S)1200030

Export refers to the purchase of domestically produced goods and services by foreigners. Import…

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a. Given the data presented in the table Belize Mexico

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter23: The International Trade And Capital Flows

Section: Chapter Questions

Problem 19SCQ: Describe a scenario in which a trade surplus benefits an economy and one in which a trade surplus is...

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