Due to the fact that most Latin American nations are oil ____, the price increase of oil in the 1970s led to trade ____.

Question

Quizplus · Accepted Answer

The question states that Latin American nations are "oil importers", which means they rely on importing oil from other countries. The price increase of oil in the 1970s would have led to increased costs for these oil-importing nations, thus creating "trade deficits" as they spend more money on importing oil than they are able to earn through exports. Choice A and B are incorrect because they refer to oil "exporters" instead of "importers". Choice D is incorrect because it suggests that the price increase of oil led to trade surpluses for Latin American nations, which is inconsistent with the definition of "importers". Choice E is incorrect because the question does not mention Latin American nations being "oil producers".

Due to the Fact That Most Latin American Nations Are