Asked by Bridgette Clark on May 19, 2024
Verified
The U.S. has a trade surplus in services.
Trade Surplus
A situation where a country's exports exceed its imports over a given period, indicating a positive balance of trade.
Services
Services involve non-material economic activities aimed at satisfying needs or wants, including endeavors like consulting, banking, or maintenance.
- Recognize the U.S. position in global trade, including its trade balance and major trading partners.
Verified Answer
DS
Deeep SinghhMay 25, 2024
Final Answer :
True
Explanation :
According to the United States Census Bureau, the U.S. had a trade surplus in services in 2019, exporting $821 billion and importing $563 billion, resulting in a surplus of $258 billion.
Learning Objectives
- Recognize the U.S. position in global trade, including its trade balance and major trading partners.
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