USmerchandise Exports and Imports Combined Amounted to What Percentage of the US

question 38

Multiple Choice

U.S.merchandise exports and imports combined amounted to what percentage of the US GDP in 2017?

• A)10 percent
• B)15 percent
• C)20 percent
• D)25 percent
• E)More than 25 percent

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Definitions:

Accounting Equation

The foundation of double-entry bookkeeping, representing the relationship: Assets = Liabilities + Equity.

Debit-Credit Analysis

A fundamental accounting technique that balances debits and credits in financial transactions to maintain the equation of assets = liabilities + equity.

Credit Services

Financial services that provide customers with credit facilities to purchase goods or services, including loans, credit cards, and lines of credit.

GAAP

Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting used in any jurisdiction.