As measured in 2008, about _______ of U.S. trade and _______ of European trade is intra-industry trade.

Question

Quizplus · Accepted Answer

Intra-industry trade refers to the exchange of similar products belonging to the same industry. As of 2008, approximately 60% of both U.S. and European trade was intra-industry trade, indicating a high level of trade in similar goods and services within these regions. This reflects the complex nature of modern trade, where countries often export and import similar types of goods, such as cars or electronics, due to brand preferences, variations in technology, and other factors.

As Measured in 2008, About _______ of U