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

a. trade deficit of $10,763,098

Step-by-step explanation:

A country's balance of trade is the difference between the country's exports and import.

Where the exports is more the import, the excess is known as  a trade surplus.

However, when imports is more than exports, it is said to  be  a trade deficit.

Imports total = $64,821,824

Exports total = $54,058,726

Balance of trade = $54,058,726 - $64,821,824

                            = -$10,763,098

This is a trade deficit of $10,763,098.

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