Asked by Greyson Grubb on Jun 14, 2024
Verified
The percentage of the United States' domestic output that is derived from international trade is higher than that for any other industrially advanced nation.
International Trade
The exchange of goods, services, and capital between countries and territories, playing a crucial role in the global economy by allowing for specialization and access to diverse products.
- Comprehend the significance of past and contemporary influences on the mechanisms of international trade.
Verified Answer
CM
christina MullarkeyJun 20, 2024
Final Answer :
False
Explanation :
The United States, while heavily involved in international trade, does not have the highest percentage of its domestic output derived from international trade compared to other industrially advanced nations. Countries such as Germany and China have a higher proportion of their GDP linked to international trade.
Learning Objectives
- Comprehend the significance of past and contemporary influences on the mechanisms of international trade.
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