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

A) a trade deficit

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

d. $240,400

Explanation:

To calculate the Cost of Goods sold for the year we simply add the Opening Balance of Finished goods to the Cost of Goods for the year and then subtract the Finished goods balance at year end (ending).

That would be,

= 233,000 + 31,600 - 24,200

= $240,400

$240,400 is the Cost of Goods sold for the year so Option D is correct.