Which of the following statements about world trade flows is most accurate?
A)The EU (European Union)is the world leader in terms of GDP (gross domestic product).
B)The relative position of the United States as a supplier to the world has increased because of an absolute growth in exports.
C)The United States is running a continuing trade surplus because it has the world's largest gross domestic product.
D)The United States' relative role as an exporter has increased in the area of aerospace.
E)During the past 30 years,the relative position of the U.S.in terms of GDP has remained stable despite the fact that actual value of products and services has increased.

Question

Quizplus · Accepted Answer

The statement that the United States' relative role as an exporter has increased in the area of aerospace is the most accurate. The other statements either contain inaccuracies or are not as precise in their description of world trade flows. The EU is not necessarily the world leader in terms of GDP, as that title can be contested by other countries such as the United States and China. The relative position of the United States has increased, but it is not solely due to an absolute growth in exports. The United States is not running a continuing trade surplus, as it has a trade deficit. Finally, the statement about the relative position of the U.S. in terms of GDP is not as relevant to the question of world trade flows.

Which of the Following Statements About World Trade Flows Is