Briefly Discuss the Role of Services in the U.S.economy

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The Answer is In recent decades,the U.S.economy has increasingly become a service economy.Transformations in society,such as increased specialization,employment by family members,scarcity of time,and a constantly growing desire for convenience are some of the factors which have led to the rapid growth of services.The U.S.service sector now produces approximately 80 percent of GDP and employs 77 percent of the workforce.The service sector accounts for all of the growth in total nonfarm employment.Only a limited segment of the total range of U.S.services is sold internationally.Global service trade has had very beneficial results for many U.S.firms.Most of the large management consulting firms derive more than half of their revenue from international sources.

Briefly Discuss the Role of Services in the U.S.economy

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