Answer the question on the basis of the following 2012 balance of payments data (+ and -)for the hypothetical nation of Zabella.All figures are in billions of dollars. $\begin{array}{c}
\begin{array}{lll}
\text {Current Account}\
\hline \text {1) Goods Exports}\
\text {2) Goods Imports}\
\text {3) Exports of Services}\
\text {4) Imports of Services}\
\text {5) Net Investment Income}\
\text {6) Net Transfers}\
\
\text {Financial Account}\
\hline \text {7) Foreign Purchases of Assets in the United States}\
\text {8) US Purchases of Assets Abroad}\
\
\text {Capital Account}\
\hline \text {9) Balance on Capital Account}
\end{array}
\begin{array}{r}
\
\hline+\$ 80 \
-70 \
+20 \
-25 \
+5 \
-5 \
\
\
\hline+13 \
-23\
\
\
\hline+5
\end{array}
\end{array}$
Refer to the given data.Zabella has a balance of trade (goods):

Question

Answer the question on the basis of the following 2012 balance of payments data (+ and -)for the hypothetical nation of Zabella.All figures are in billions of dollars. $\begin{array}{c}
\begin{array}{lll}
\text {Current Account}\
\hline \text {1) Goods Exports}\
\text {2) Goods Imports}\
\text {3) Exports of Services}\
\text {4) Imports of Services}\
\text {5) Net Investment Income}\
\text {6) Net Transfers}\
\
\text {Financial Account}\
\hline \text {7) Foreign Purchases of Assets in the United States}\
\text {8) US Purchases of Assets Abroad}\
\
\text {Capital Account}\
\hline \text {9) Balance on Capital Account}
\end{array}
\begin{array}{r}
\
\hline+\$ 80 \
-70 \
+20 \
-25 \
+5 \
-5 \
\
\
\hline+13 \
-23\
\
\
\hline+5 
\end{array}
\end{array}$
 Refer to the given data.Zabella has a balance of trade (goods):

Quizplus · Accepted Answer

The balance of trade is the difference between exports and imports of goods. In this case, Zabella's exports of goods are $80 billion and its imports of goods are $70 billion. Therefore, Zabella has a surplus of $10 billion in its balance of trade.

Answer the Question on the Basis of the Following 2012