Suppose there are three countries in the world. Country A exports ($11) million worth of goods to
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Suppose there are three countries in the world.
Country A exports \($11\) million worth of goods to country B and \($5\) million worth of goods to country C; country B exports \($3\) million worth of goods to country A and \($6\) million worth of goods to country C; and country C exports \($4\) million worth of goods to country A and \($1\) million worth of goods to country B.
a. What are the net exports of countries A, B, and C?
b. Which country is running a trade deficit? A trade surplus?
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