Answer
False.
$\$347 \text{ billion} =3.47 \times 10^{11}$ dollars
Work Step by Step
A number in scientific notation is of the form $a \times 10^n$, where $1 \le a \lt 10$, and $n$ is an integer.
Thus, $347 \times 10^9$ is not in scientific notation.
Move the decimal point 2 places to the left and then increase the power of 10 by 2 to retain the value and obtain:
$=3.47 \times 10^{9+2}
\\=3.47 \times 10^{11}$
