Examine the summary of the balance of payments of the United States for $2021.$ Compute and discuss the balance on the current account and its subaccounts.

A Summary of the U$.$S$.$ Balance of Payments for $2021($in $ billion$)$

Source: The U$.$S$.$ Bureau of Economic Analysls

Required:

a$-1.$ Compute the balance on the U$.$S$.$ goods trade.

a$-2.$ What does the balance on the U$.$S$.$ goods trade you computed above represent?

a$-3.$ Compute the balance on the U$.$S$.$ services trade.

a$-4.$ What does the balance on the U$.$S$.$ services trade you computed above represent?