Question

Over the last several years, the United States has run a ________ in the goods trade balance and a ________ in the services trade balance.

Answer 1

deficit

surplus

Step-by-step explanation:

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.

export would comprise of goods and services produced in the US that are been sold to foreign countries

Import would comprise of foreign produced goods and services that are been sold in the US

In 2020, trade deficit was $678.7 billion in 2020