The following table shows the approximate value of exports and imports for the United States from 2006 through 2010.
1. Imports, exports, and the trade balance
The following table shows the approximate value of exports and imports for the United States from 2006 through 2010.
Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.
Between 2007 and 2008, the _______ , _______ in dollar terms and _______ as a percentage of GDP.
Homework Answers
| Year | Billion of dollar | percentage of GDP |
| 2006 | -769.3 | (768.3/13399)×100= 5.74% |
| 2007 | -714 | 5.07% |
| 2008 | -710.4 | 4.94% |
| 2009 | -386.3 | 2.73% |
| 2010 | -516.4 | 3.51% |
Between 2007 and 2008 the trade deficit is decreased in dollar terms and decreased as a percentage of GDP
ANSWER :
The incomplete part of the table will be as under :
Year Exports - Imports
Billions of dollars Percentage of GDP
2006 1471.0 - 2240.3 - 769.3 / 13399 .0* 100
= - 769.3 = - 5.74 %
2007 1661.7 - 2375.7 - 714.0 / 14062.0 * 100
= - 714.0 = - 5.08 %
2008 1843.4 - 2553.8 - 710.4 / 14369.0 * 100
= - 710.4 = - 4.94 %
2009 1578.4 - 1964.7 - 386.3 / 14119.0 * 100
= - 386.3 = - 2.74 %
2010 1837.5 - 2353.9 - 516.4 / 14660.0 * 100
= - 516.4 = - 3.52 %
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The following table shows the approximate value of exports and imports for the United States from 2006 through 2010.
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