Suppose the country of Lilliput exported $145 billion$⁢145 billion worth of goods and imported $423 billion$⁢423 billion worth of goods in the last calendar year. Calculate Lilliput's net exports. $$ billionbillion Lilliput is running neither a trade deficit nor a trade surplus. a trade surplus. a trade deficit.

Suppose the country of Lilliput exported $145 billion$⁢145 billion worth of goods and imported $423 billion$⁢423 billion worth of goods in the last calendar year. Calculate Lilliput's net exports. $$ billionbillion Lilliput is running neither a trade deficit nor a trade surplus. a trade surplus. a trade deficit.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

Problem 5E

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