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.