Which of the following statements is true of global trade patterns?
A) The annual rate of output is less than the total merchandise trade.
B) In most countries, the share of trade as a percentage of the national economy has reduced.
C) Import and export growth has outpaced the rate of increase in GNP.
D) The share of agriculture in exports has increased over the past decade.

Question

Quizplus · Accepted Answer

Import and export growth has outpaced the rate of increase in GNP. This means that the volume of trade is increasing at a faster pace than the growth of the national economies. A is incorrect because the total merchandise trade is a part of the annual rate of output. B is incorrect because in many countries, the share of trade in the economy has increased. D is incorrect because the share of agriculture in exports has generally decreased in recent years.

Which of the Following Statements Is True of Global Trade