In 2019, Denmark had net exports of $100 billion and sold $700 billion of goods and services abroad. What were Denmark's components of net exports?
A) $600 billion of exports and $600 billion of imports
B) $600 billion of exports and $700 billion of imports
C) $700 billion of exports and $600 billion of imports
D) $800 billion of exports and $700 billion of imports

Question

Quizplus · Accepted Answer

Net exports can be calculated as the difference between exports and imports. In this case, net exports were $100 billion, which means that Denmark exported $700 billion worth of goods and services and imported $600 billion worth of goods and services. Therefore, the correct answer is C.

In 2019, Denmark Had Net Exports of $100 Billion and Sold