A Country Purchases $3 Billion of Foreign-Produced Goods and Services

Multiple Choice

A country purchases $3 billion of foreign-produced goods and services and sells $2 billion dollars of domestically produced goods and services to foreign countries.It has

A) exports of $3 billion and a trade surplus of $1 billion.
B) exports of $3 billion and a trade deficit of $1 billion.
C) exports of $2 billion and a trade surplus of $1 billion.
D) exports of $2 billion and a trade deficit of $1 billion.