Question

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?

Answer 1

It should be the difference:
$69,696,824 - $61,475,059 = $8,221,765 in deficit.

Answer 2

Answer:

                        $\ 8,221,765$

Step-by-step explanation:

Given:  The monetary value of a nation's exports = $61,475,059

The monetary value of a nation's  imports = $69,696,824

We know that the nation’s balance of trade is the difference between the monetary value of a nation's exports and imports over a course of a year.

Hence, Nation’s balance of trade =$\ 69,696,824-\ 61,475,059=\ 8,221,765$

Hence,  this nation’s balance of trade=$\ 8,221,765$