1 Imports exports and the trade balance The following table

1. Imports, exports, and the trade balance The following table shows the approximate value of exports and imports for the United States from 1968 through 1972 Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your an: to the nearest hundredth Exports Imports Exports (Billions of dollars) 47.9 51.9 59.7 63.0 70.8 GDP Imports (Billions of dollars) 46.6 (Billions of dollars) (Percentage of GDP) Year 1968 1969 1970 1971 1972 (Billions of dollars) 910.0 985.0 1,039.0 1,127.0 1,238.0 50.5 55.8 62.3 74.2 Source: \"Income, Expenditures, Poverty, & Wealth: Gross Domestic Product (GDP),\" United States Census Bureau, United States Department of Commerce, last modified September 2011, accessed June 10, 2013, https://www.census.gov/library/publications/2011/compendia/statab/131ed/income-expenditures-poverty-wealth.html Between 1968 and 1969, the in dollar terms and as a percentage of GDP

Solution

Between 1968 and 1969,net exports increased in dollar terms and decreased in percentage terms.

For calculating %=(Net exports/GDP)*100

Please leave a comment in case of a query.

Year	GDP	Exports	Imports	Net exports	% of GDP
1968	910	47.9	46.6	1.3	.1428
1969	985	51.9	50.5	1.4	.1421
1970	1039	59.7	55.8	3.9	.37
1971	1127	63	62.3	.7	.062
1972	1238	70.8	74.2	-3.4	.27