In 2008, the U.S.current account balance was -$706 billion, net interest was +$119 billion, net transfers were -$128 billion, and exports were +$1,827 billion.Therefore, imports were ________.

Question

Quizplus · Accepted Answer

The correct answer is A.The current account balance is equal to the sum of the net interest, net transfers, and exports. Therefore, imports can be calculated as follows:Imports = Current account balance - Net interest - Net transfers - ExportsImports = -$706 billion + $119 billion - $128 billion - $1,827 billionImports = -$2,524 billion