Asked by Melissa Wilkerson on Jun 01, 2024
Verified
Statement I: China and South Korea are the world's largest exporters.
Statement II: International trade is more important to the U.S.economy than it is to smaller industrial countries such as the Netherlands.
A) Statement I is true and statement II is false
B) Statement II is true and statement I is false
C) Both statements are true
D) Both statements are false
International Trade
The exchange of goods, services, and capital between countries and territories, influenced by factors like tariffs, global supply and demand, and exchange rates.
Exporters
Individuals or companies that sell goods or services to foreign countries.
Netherlands
A country located in Northwestern Europe, known for its flat landscape, extensive canal system, tulip fields, windmills, and cycling routes.
- Pinpoint the foremost exporters around the world and perceive the alteration in the balance of global economic power.
Verified Answer
SK
Sudhakar KanagalaJun 01, 2024
Final Answer :
D
Explanation :
Statement I is false because while China is one of the world's largest exporters, South Korea is not the largest, countries like the United States and Germany also rank highly. Statement II is false because international trade is often more critical to smaller countries like the Netherlands, which rely more heavily on trade relative to their GDP than larger economies like the U.S.
Learning Objectives
- Pinpoint the foremost exporters around the world and perceive the alteration in the balance of global economic power.