People Processing, Possession Processing, Mental Stimulus Processing, and Information Processing

question 26

True/False

People processing, possession processing, mental stimulus processing, and information processing make up the four broad categories of services.

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Definitions:

Trade Balance

The difference between a country's exports and imports of goods and services.

U.S. Government

The federal government of the United States, a constitutional republic comprising the executive, legislative, and judicial branches.

Net Capital Outflow

The difference between the domestic country's sale of assets to foreigners and its purchase of assets from foreigners during a specific period.

Loanable Funds

The market model representing the supply and demand for loans, where the interest rate is determined.