Asked by Boston Bragg on Jul 27, 2024
Verified
Since the mid-1970s our merchandise balance of trade has been ________ and our services balance of trade has been ______.
Merchandise Balance
The difference in value between a nation's imports and exports of tangible goods.
Services Balance
A measure of the difference between a nation's exports and imports of services, part of the broader current account balance.
- Attain insight into the essential notions of trade balances, including identifying the disparity between a trade surplus and a deficit.
- Understand the elements that impact trade deficits and surpluses, specifically considering the significance of goods and services.
Verified Answer
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Learning Objectives
- Attain insight into the essential notions of trade balances, including identifying the disparity between a trade surplus and a deficit.
- Understand the elements that impact trade deficits and surpluses, specifically considering the significance of goods and services.