Which of the following statements is true?
A) The majority of U.S. international trade is with underdeveloped countries.
B) Imports and exports have each remained at approximately 15 percent of U.S. GDP since 1970.
C) In 2011, industrial supplies and capital goods accounted for more U.S. imports and exports, respectively, than did other product groups.
D) All of the above.
Correct Answer:
Verified
Q14: The majority of U.S. international trade occurs
Q15: Which of the following statements is FALSE?
A)
Q16: Of the following, the three countries that
Q17: In recent years, there has been a
Q18: According to Application 16.1, "A Sad Story:"
A)
Q20: Specialization:
A) increases dependence on markets and trade.
B)
Q21: When nations focus their productive resources on
Q22: You would expect an increase in international
Q23: Specialization should increase total output in the
Q24: According to the principle of comparative advantage,
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