The following table identifies the real value of exports,imports,and gross domestic product (GDP)for a country for three different years,measured in billions of dollars.
a.During this time period,what has happened to exports and imports as a percentage of GDP? Calculate the values.
b.During this time period,what has happened to the trade balance? Calculate the values.
c.Provide a plausible explanation for why the values might have changed in the way they did.
Definitions:
Cartilage
A flexible, rubber-like connective tissue found in various parts of the body, including joints, ear, and nose, providing support and cushioning.
Muscle
Tissues in the body that contract to produce movement, consisting of skeletal, smooth, and cardiac types.
Epithelial Tissue
A type of tissue that lines the outer surfaces of organs and blood vessels, as well as the inner surfaces of cavities in many internal organs.
Nerve
Bundle of long axons outside the central nervous system.
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