Solve the problem.
-The difference between a country's exports and imports is called the country's trade balance. In 1994, a country had $116 billion in exports and $136 billion in imports. What was the country's trade balance in 1994?
A) $252 billion
B) -$252 billion
C) -$20 billion
D) $20 billion

Question

Quizplus · Accepted Answer

To find the trade balance, we need to subtract the imports from the exports:
$116 billion (exports) - $136 billion (imports) = -$20 billion

Since the imports are greater than the exports, the trade balance is negative, indicating a trade deficit of $20 billion. Therefore, the correct answer is C) -$20 billion. To find the trade balance, we need to subtract the value of imports from the value of exports. 
Trade balance = Exports - Imports
Substituting the given values, we get:
Trade balance = $116 billion - $136 billion
Trade balance = -$20 billion 
The negative sign indicates that the country had a trade deficit, meaning that it imported more than it exported. Therefore, the correct answer is option C) -$20 billion.

Solve the Problem. -The Difference Between a Country's Exports and Imports Is Called