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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Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

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