Question

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. Which type of trade balance is Lilliput running?

(A) a trade deficit
(B) a trade surplus
(C) neither a trade deficit nor a trade surplus

Answer 1

A) a trade deficit

Step-by-step explanation:

A trade deficit is when a country imports more than it exports.

$477 billion is greater than $263 billion

A trade surplus is when a country exports more than it imports.

I hope my answer helps you