In 2012,Cote d'Ivore had $3 billion of net exports and bought $1 billion of goods from foreign countries.What were Cote d'Ivore's components of net exports?
A)$4 billion in exports and $1 billion in imports
B)$3 billion in imports and $2 billion in exports
C)$2 billion in exports and $3 billion in imports
D)$1 billion in imports and $3 billion in exports

Question

Quizplus · Accepted Answer

Net exports are the difference between exports and imports, so in this scenario, Cote d'Ivore's components of net exports are $3 billion in exports minus $1 billion in imports, which equals $2 billion. Therefore, the correct answer is A - $4 billion in exports and $1 billion in imports.

In 2012,Cote D'Ivore Had $3 Billion of Net Exports and Bought