If a Country's GDP Is $10 Trillion, Its Exports Are

question 2

Multiple Choice

If a country's GDP is $10 trillion, its exports are $1 trillion,
Its imports are $1.5 trillion, then:

• A)its trade­to­GDP ratio is 10%.
• B)its trade­to­GDP ratio is 15%.
• C)its trade­to­GDP is 25%.
• D)its trade­to­GDP is 400%.

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Definitions:

Gross Income

The total income received before any deductions or taxes are subtracted.

Bumper Crop

An unusually large harvest of a crop, often leading to a decrease in prices due to increased supply.

U.S. Farm Products

Goods produced by the agriculture sector in the United States, including crops, livestock, and their derivatives.

Demand

The total quantity of a good or service that consumers are willing and able to purchase at a given price in a specified period.