During Some Year a Country Had Exports of $50 Billion

question 87

Multiple Choice

During some year a country had exports of $50 billion, imports of $35 billion, and purchased $30 billion of foreign assets. What was the value of domestic assets purchased by foreigners?

• A)$35 billion
• B)$20 billion
• C)$15 billion
• D)$5 billion

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Definitions:

Deductions

Amounts that are subtracted from an individual's gross income to reduce the income subject to tax, including various expenses, contributions, and allowances.

Employee Payroll

The total amount due to employees for the work they’ve done, including wages, salaries, and bonuses.

Interest Expense

The cost incurred by an entity for borrowed funds, reflecting the interest payments on debt.

Note Payable

A written promise to pay a specific amount of money, usually with interest, by a certain date, representing a form of debt.