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Exported goods and services were worth $2500 which were $500 more than what it had imported in 2016
Exported goods and services were worth $2500 which were $500 more than what it had imported in 2016. Additionally, its consumption expenditure on goods and services were $5000 which was 120% of its investment expenditure and 100% of its government expenditure. The economy’s net exports in 2016 were
a)Insufficient information to answer
b)$500 worth of goods and services.
c)$3,000 worth of goods and services.
d)$1,500 worth of goods and services.
Expert Solution
Answer b)$500 worth of goods and services.
Net exports = Exports of goods and services - imports of goods and services
Exports are 500$ more than imports
Exports are 2500 $ , so imports are 2000 $
It means that Net exports are 500 $ worth of goods and services as difference between exports and imports is Net exports .
Other information is not required
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