The following table shows the approximate value of exports and imports for the United States from 1997 through 2001.

Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.

We can see that the deficit in grew every year except for the year 2001, when it was reduced a bit. This was because the U.S. began to import more goods than it exported.

anthougo anthougo · Answer 2 · 2021-11-16T20:52:07+01:00

The completion of the table with the calculation of the surplus or deficit is as follows:

Year GDP Exports Imports Exports - Imports = Surplus /Deficit

Billions Billions Billions Deficits Percentage of GDP

1997 $8,332.0 $954.4 $1,055.8 ($101.4) 1.22%

1998 $8,794.0 $953.9 $1,115.7 ($161.8) 1.84%

1999 $9,354.0 $989.3 $1,251.4 ($262.1) 2.75%

2000 $9,952.0 $1,093.2 $1,475.3 ($382.1) 3.84%

2001 $10,286.0 $1,027.7 $1,398.7 ($371.0) 3.61%

Thus, the exports exceeded the imports each of the years and the percentage of deficits to GDP continued to rise by 50%.

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The following table shows the approximate value of exports and imports for the United States from 1997 through 2001. Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.

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The following table shows the approximate value of exports and imports for the United States from 1997 through 2001.

Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.