Question

an economist tracking a country’s imports and exports finds that one year, the country’s imports total an equivalent of $64,821,824, and its exports total an equivalent of $54,058,726. what is this country’s balance of trade for that year?
a. trade deficit of $10,763,098
b. trade deficit of $118,880,550
c. trade surplus of $10,763,098
d. trade surplus of $118,880,550
please select the best answer from the choices provided
a
b
c
d

Explanation:

Step1: Identify Imports and Exports

Imports = $64,821,824, Exports = $54,058,726.

Step2: Calculate Trade Balance

Trade Balance = Exports - Imports = $54,058,726 - $64,821,824 = -$10,763,098. A negative value means a trade deficit.

Answer:

a. trade deficit of $10,763,098