Asked by Pablo Porcayo on May 18, 2024
Verified
As a percentage of GDP, U.S. exports are
A) greater than U.S. imports.
B) about 20 percent.
C) considerably lower than in several other industrially advanced nations.
D) higher than in Canada but lower than in Germany.
GDP Percentage
A metric that represents a component of the Gross Domestic Product as a percentage of the total GDP, often used to assess economic health.
Industrially Advanced
Describes countries, regions, or businesses that have highly developed and sophisticated manufacturing capabilities and technologies.
- Recognize the principal global exporters and comprehend the importance of their positions in global commerce.
- Understand the influence of various production efficiencies on global trade.
Verified Answer
MA
Muhammad AshfaqMay 22, 2024
Final Answer :
C
Explanation :
While the United States is the world's second-largest exporter (after China), its exports as a percentage of GDP are lower than several other industrially advanced nations. For example, Germany's exports as a percentage of GDP were 47.2% in 2017, compared to the United States' 12.4%.
Learning Objectives
- Recognize the principal global exporters and comprehend the importance of their positions in global commerce.
- Understand the influence of various production efficiencies on global trade.
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