Exhibit 29-1 Refer to Exhibit 29-1.For Nation Z,the balance of trade for the year 2011 equals:

Question

Exhibit 29-1  Refer to Exhibit 29-1.For Nation Z,the balance of trade for the year 2011 equals:

Quizplus · Accepted Answer

The balance of trade is calculated as the difference between a country's total exports and total imports. For Nation Z, total exports in 2011 were $320 billion and total imports were $416 billion. Therefore, the balance of trade is:
$320 billion - $416 billion = -$96 billion.
Since the value is negative, it indicates that Nation Z has a trade deficit.