The volume of trade has changed dramatically between 1960 and 2007. Which empirical statement best describes this transformation?
A)U.S. exports have increased from 4.8 to 11.6 percent of GDP, while U.S. imports have risen from 4.3 to 16.7 percent of GDP.
B)U.S. exports have increased from 4.8 to 51.5 percent of GDP, while U.S. imports have risen from 4.3 to 52.9 percent of GDP.
C)U.S. exports have increased from 4.8 to 41.5 percent of GDP, while U.S. imports have risen from 4.3 to 42.9 percent of GDP.
D)U.S. exports have decreased from 61.5 to 4.8 percent of GDP, while U.S. imports have fallen from 32.9 to 4.3 percent of GDP.

Question

Quizplus · Accepted Answer

This statement accurately describes the change in the volume of trade between 1960 and 2007, with both U.S. exports and imports seeing significant increases as a percentage of GDP. The other choices either vastly overstate the increase in trade (B) or suggest a sharp decrease in exports and imports (D), which is not supported by the data.

The Volume of Trade Has Changed Dramatically Between 1960 and 2007