Use the following to answer questions:
-(Figure 7-1: Circular-Flow Model) Use Figure 7-1: Circular-Flow Model. What are net exports?
A) $0
B) $30
C) $60
D) $100

Question

Use the following to answer questions: 
-(Figure 7-1: Circular-Flow Model) Use Figure 7-1: Circular-Flow Model. What are net exports?
A) $0 
B) $30 
C) $60 
D) $100

Quizplus · Accepted Answer

Net exports are calculated as the difference between a country's total exports and total imports. In a circular-flow model where no specific values for exports and imports are provided, and without additional context or data from the figure, it's not possible to accurately determine net exports. Therefore, without seeing Figure 7-1, the correct answer cannot be determined based on the information given. However, if we assume a closed economy (which does not engage in trade with the outside world) as a default for some circular-flow diagrams, net exports would be $0, because there are no exports or imports.

Use the Following to Answer Questions