In 2012,Denmark had net exports of $10 billion and sold $60 billion of goods and services abroad.What were Denmark's components of net exports?
A)$70 billion of exports and $50 billion of imports
B)$50 billion of exports and $70 billion of imports
C)$60 billion of exports and $50 billion of imports
D)$50 billion of exports and $60 billion of imports

Question

Quizplus · Accepted Answer

Net exports are calculated by subtracting imports from exports. In this case, Denmark had net exports of $10 billion and sold $60 billion of goods and services abroad. Therefore, imports would be $50 billion ($60 billion -$10 billion). The components of net exports are exports minus imports, which would be $60 billion - $50 billion = $10 billion. Therefore, choice C is the correct answer.

In 2012,Denmark Had Net Exports of $10 Billion and Sold