Which of the following statements is true?
A) In 1820, only about 10 percent of world output was exported to foreign markets.
B) Economies were more closed at the beginning of the twentieth century than they were halfway through the century, in 1950.
C) Over the past 200 years, international trade throughout the world has grown more rapidly than world output.
D) In the late 1990s, the United States exported less than it did 500 years earlier.

Question

Quizplus · Accepted Answer

This statement is true according to historical data and economic analysis. Globalization and the development of international markets have led to an increase in international trade throughout the world, often at a faster rate than the growth in world output. Choices A, B, and D are false.

Which of the Following Statements Is True