If Canada imported $1.5 billion worth of goods and services and sold $2.9 billion worth of goods and services outside its borders,what would its net exports equal?

Question

Quizplus · Accepted Answer

Net exports refer to the difference between the value of goods and services exported from a country and the value of the goods and services imported into the country. Therefore, to calculate Canada's net exports, we need to subtract the value of imports from the value of exports:
Net exports = Value of exports - Value of imports
Net exports = $2.9 billion - $1.5 billion
Net exports = $1.4 billion
Thus, the correct answer is C) $1.4 billion.

If Canada Imported $1