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.

Economics:
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ISBN:9781285859460
Author:BOYES, William
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Chapter4: The Aggregate Economy
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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.

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