If the tradetoGDP ratio is 25% and the overall value of
Trade is $175 billion, then the GDP is:

Name: If the tradetoGDP ratio is 25% and the overall value of Trade is $175 billion, then the GDP is:
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Question

If the trade­to­GDP ratio is 25% and the overall value of
Trade is $175 billion, then the GDP is:

Quizplus · Accepted Answer

If the trade-to-GDP ratio is 25%, it means that the value of trade is one-quarter of GDP. Therefore, the GDP can be calculated by dividing the overall value of trade ($175 billion) by 25% (0.25) as follows: GDP = $175 billion / 0.25 = $700 billion. Therefore, the correct answer is B).

If the Trade­to­GDP Ratio Is 25% and the Overall Value

If the TradetoGDP Ratio Is 25% and the Overall Value