Over the course of a year, a nation records that its exports total an equivalent of $61,475,059, and its imports total an equivalent of $69,696,824. what is this nation’s balance of trade? a. trade deficit of $131,171,883 b. trade deficit of $8,221,765 c. trade surplus of $131,171,883 d. trade surplus of $8,221,765

B. trade deficit of $8,221,765

Step-by-step explanation:

In the condition of trade deficit ,

Import > Export,

While in the condition of trade surplus,

Import < Export,

Here, Import = $69,696,824 and export =  $61,475,059,

Since, $69,696,824 > $61,475,059

Therefore, here trade deficit occurs,

And, trade deficit = Total import - Total export =  $69,696,824 - $61,475,059=$8,221,765

⇒ Option B is correct.

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step-by-step explanation: