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Question

'Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars'. State whether this statement is correct.

A
True
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B
False
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Solution

The correct option is A True
That amount gets added to the country's GDP. If a nation exports $80 billion of goods and imports 100billion,ithasnetexportsofminus20 billion, and that amount is subtracted from the nation's GDP.That means that no nation wants a negative trade balance.

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