If the Republic of Trinidad and Tobago had total exports of $150 billion and total imports of $234 billion, the country had a
A) comparative advantage.
B) trade deficit.
C) balance of payments.
D) negative output.
E) positive balance of trade.

Question

Quizplus · Accepted Answer

A trade deficit occurs when a country's total imports exceed total exports. In this case, Trinidad and Tobago has imported $84 billion more than it exported, indicating a trade deficit.

If the Republic of Trinidad and Tobago Had Total Exports