Asked by Colleen Tercek on May 21, 2024
Verified
Before the early 1970s,we ran a positive trade balance
A) in both merchandise and services.
B) in neither merchandise nor services.
C) in merchandise,but not in services.
D) in services,but not in merchandise.
Positive Trade Balance
A situation where the value of a country's exports exceeds the value of its imports, also known as a trade surplus.
Merchandise
Goods produced for the purpose of being sold, typically referred to in the context of retail sales and trade.
Services
Intangible products such as education, healthcare, and entertainment that are consumed at the point of delivery.
- Ascertain and analyze the influences on a country's trade balance and understand their importance for the economic framework.
Verified Answer
RC
Rohith ChemitigantiMay 24, 2024
Final Answer :
A
Explanation :
Before the early 1970s, the United States generally ran a positive trade balance in both merchandise (goods) and services, meaning it exported more than it imported in these categories.
Learning Objectives
- Ascertain and analyze the influences on a country's trade balance and understand their importance for the economic framework.
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