How Is the Degree of Trade Integration Measured

question 2

Multiple Choice

How is the degree of trade integration measured?

• A)the difference between growth rates in trade and gross domestic product (GDP)
• B)the average export volume divided by the average gross domestic product (GDP)
• C)gross domestic product (GDP)minus gross national product (GNP)
• D)the difference between total export volume and gross domestic product (GDP)

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Definitions:

Operating Income

The profit earned from a firm's regular core business operations, excluding deductions of interest and tax.

Operating Expenses

Costs incurred in the normal operations of a business, such as salaries, utilities, and rent, exclusive of cost of goods sold.

Revenue Recognition

Revenue Recognition is the accounting principle that dictates the specific conditions under which income becomes recognized as revenue.