Chapter 23: Q. 6 (page 575)
The GDP for the United States is \(18,036 billion and its current account balance is –\)484 billion. What percent of GDP is the current account balance?
2.68%
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What determines the size of a country’s trade deficit?
Occasionally, a government official will argue that a country should strive for both a trade surplus and a healthy inflow of capital from abroad. Is this possible?
Does a trade surplus mean an overall inflow of
financial capital to an economy, or an overall outflow of
financial capital? What about a trade deficit?
If imports exceed exports, is it a trade deficit or a
trade surplus? What about if exports exceed imports?
Why does the trade balance and the current account balance track so closely together over time?
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