Which is true?

Question

Which is true?

BlackTom AI · Accepted Answer

Trade balance (B) is defined as net exports: exports minus imports. In standard national accounts notation EX = exports, IM = imports, and B (the trade or goods-and-services balance) = EX − IM.

1) Relevant concepts:
- Exports (EX) are goods/services sold abroad; imports (IM) are goods/services purchased from abroad.
- Net exports (also written NX or B) measure the difference between exports and imports.
- The GDP expenditure identity is Y = C + I + G + (EX − IM), which isolates EX − IM as the external sector’s contribution.

2) Step-by-step reasoning:
- By definition, net exports = exports − imports.
- If B denotes the trade balance, then B = EX − IM by direct substitution of the definition into the variable B.

3) Example calculation (intermediate steps):
- Suppose EX = 150 and IM = 120.
- Then B = EX − IM = 150 − 120 = 30.
- That numeric result illustrates how B is computed from EX and IM.

4) Why B = EX − IM is correct:
- The trade balance is exactly the algebraic difference between exports and imports. This is a textbook identity in macroeconomics and national accounting.

5) Why other options are incorrect:
- "A = S + I": A typically denotes absorption (C + I + G) or aggregate demand; it is not equal to S + I in general. S + I is a savings–investment relationship, not a standard identity for A.
- "B = A − Y": If A were absorption and Y national income, A − Y equals the negative of net exports (A − Y = −(EX − IM)), not B. So this statement is incorrect in sign and interpretation.
- "all of these": Because the first two options are not generally true, “all of these” cannot be correct.

Conclusion: The correct statement is B = EX − IM, which matches the provided answer.

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