Use the following to answer questions:
-(Table: Balance of Payment)Refer to Table: Balance of Payments.In this case,the country's balance of payments on goods and services is:

Question

Use the following to answer questions: 
-(Table: Balance of Payment)Refer to Table: Balance of Payments.In this case,the country's balance of payments on goods and services is:

Quizplus · Accepted Answer

The balance of payments on goods and services is calculated as exports minus imports. In this case, exports are $3,460 billion and imports are $3,835 billion. Substracting imports from exports, we get a deficit of -$375 billion, indicating that the country spent more on imports than it earned from exports. Therefore, the correct answer is B.

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