b. If foreigners spend $7 billion on U. S. exports in a given year and Americans spend $5 billion on imports from abroad in the same year, what is the value of U. S. net exports

$2 billion

Explanation:

Foreigners spend $7 billion on U.S net exports

Americans spend $5 billion on imports

Therefore the value of U.S net exports can be calculated as follows

= $7 billion-$5billion

= $2 billion

Hence the value of U.S net exports is $2 billion

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