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Economics:

10th Edition
BOYES + 1 other
ISBN: 9781285859460

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BuyFindarrow_forward

Economics:

10th Edition
BOYES + 1 other
ISBN: 9781285859460
Textbook Problem

Use the information in the following table on Mexico's 2007 international transactions to answer exercises 4—6 (the amounts are the U.S. dollar values in millions):

What is the balance of trade?

To determine

The balance of trade using the given table.

Explanation

Merchandise Exports  = $271, 594

Merchandise Imports = $281,649

Balance of trade = (Merchandise exports + Service exports) − (Merchandise import + Serv

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