Which of the following statements about the importance of trade to the U.S.economy is false?
A)Since 1950,both exports and imports have steadily increased as a fraction of U.S.gross domestic product.
B)Overall,about 20 percent of U.S.manufacturing jobs depend directly or indirectly on exports.
C)The United States is the second largest exporter in the world.
D)The U.S.economy is highly dependent on international trade for growth in its gross domestic product.

Question

Quizplus · Accepted Answer

This statement is false. While trade does play an important role in the U.S. economy, it is not the only factor that contributes to its growth. Domestic consumption and investment also play significant roles in driving GDP growth.

Which of the Following Statements About the Importance of Trade