Suppose the country of lilliput exported 263 billion dollars worth of goods while they imported 477 billion dollars worth of goods in the last calendar year.

1) calculate lilliput\'s balance of trade: billions of dollars.
2) lilliput is running:

a) a trade deficit
b) a trade surplus
c) neither a trade deficit nor a trade surplus

1. -$214 billion

2. a trade deficit

Explanation:

1. The balance of trade denotes the difference between the exports and imports.

In mathematically,

Balance of trade = Exports - imports

So,

Balance of trade = $263 billion - $477 billion

                            = -$214 billion

2. As the balance of trade comes in a negative amount which represents that imports value is more than the exports value so it would be a trade deficit

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3