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The U.S. trade deficit is the difference between the total value of goods and services that are exported from the US and the total value of goods and services imported into the US from other countries. The table shows the amount of goods and services that were exported to and imported from other countries in January of 2008 and 2009. According to the information in the table, by what percentage did the trade deficit shriak from 2008 to 2009 ?
Choose 1 answer:
(A)
17%
(B)
22%
(C)
26%
(D)
38%

The U.S. trade deficit is the difference between the total value of goods and services that are exported from the US and the total value of goods and services imported into the US from other countries. The table shows the amount of goods and services that were exported to and imported from other countries in January of $2008$ and $2009$ . According to the information in the table, by what percentage did the trade deficit shriak from $2008$ to $2009$ ? $\newline$ Choose $1$ answer: $\newline$ (A) $17 \%$ $\newline$ (B) $22 \%$ $\newline$ (C) $26 \%$ $\newline$ (D) $38 \%$

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Find values of normal variables

Full solution

Q. The U.S. trade deficit is the difference between the total value of goods and services that are exported from the US and the total value of goods and services imported into the US from other countries. The table shows the amount of goods and services that were exported to and imported from other countries in January of

2008

and

2009

. According to the information in the table, by what percentage did the trade deficit shriak from

2008

to

2009

?

\newline

Choose

1

answer:

\newline

(A)

17 \%

\newline

(B)

22 \%

\newline

(C)

26 \%

\newline

(D)

38 \%

Calculate Deficit $2008$ : Calculate the trade deficit for $2008$ by subtracting the value of exports from the value of imports. $\newline$ Deficit $2008$ = $\text{Imports}_{2008} - \text{Exports}_{2008}$ .
Calculate Deficit $2009$ : Calculate the trade deficit for ext{ $2009$ } using the same method. $\newline$ Deficit ext{ $2009$ } = Imports ext{ $2009$ } - Exports ext{ $2009$ }.
Find Deficit Change: Find the difference in the trade deficits between the two years. $\newline$ Deficit Change = $\text{Deficit}_{2008} - \text{Deficit}_{2009}$ .
Calculate Percentage Decrease: Calculate the percentage decrease in the trade deficit from $2008$ to $2009$ . $\newline$ Percentage Decrease = $(\text{Deficit Change} / \text{Deficit } 2008) \times 100$ .
Plug in Values: Plug in the values from the table to find the actual percentage. $\newline$ Assuming the values from the table are: $\newline$ Imports $2008$ = $\$200$ billion, Exports $2008$ = $\$150$ billion, Imports $2009$ = $\$180$ billion, Exports $2009$ = $\$130$ billion. $\newline$ Deficit $2008$ = $\$200$ billion - $\$150$ billion = $\$50$ billion. $\newline$ Deficit $2009$ = $\$180$ billion - $\$130$ billion = $\$50$ billion. $\newline$ Deficit Change = $\$50$ billion - $\$50$ billion = $\$150$ $2$ billion. $\newline$ Percentage Decrease = $\$150$ $3$ billion / $\$50$ billion) * $100$ = $0$ \%.

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