Assume that in 2010, a country had a GDP of $500$500 billion, a budget deficit of $6$6 billion, and a trade deficit of $10$10 billion. In five years, the budget deficit became $4.0$4.0 billion, and the trade deficit as a percentage of GDP changed by 0.70.7 percentage point(s). GDP remained unchanged. Calculate the dollar value of the trade deficit in 2015.
Assume that in 2010, a country had a GDP of $500$500 billion, a budget deficit of $6$6 billion, and a trade deficit of $10$10 billion. In five years, the budget deficit became $4.0$4.0 billion, and the trade deficit as a percentage of GDP changed by 0.70.7 percentage point(s). GDP remained unchanged. Calculate the dollar value of the trade deficit in 2015.
Chapter4: The Aggregate Economy
Section: Chapter Questions
Problem 5E
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Assume that in 2010, a country had a
Calculate the dollar value of the trade deficit in 2015.
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