- than exports.
. A trade surplus is when exports are greater than imports.
Area within which goods may be landed, handled,
freely. The purpose is to remove obstacles to \///
trade and to permit
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Finding GDP using Expenditure and Income Approach:
Below is a list of domestic output and national income gures for a given year. All gures
are in billions. The questions that follow ask you to determine
QUIZ (20 pts.) (Please show all your work to earn credit)
1- Assume that following table represents the Demand and Supply of shoes at various price levels.
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