The Differences in the Ratios of Exports to GDP Across

question 1

Multiple Choice

The differences in the ratios of exports to GDP across countries are believed to be caused primarily by

• A)trade barriers.
• B)each country's size.
• C)geography.
• D)all of the above
• E) both B and C

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Definitions:

GAAP Definition

Generally Accepted Accounting Principles; a standard framework of guidelines for financial accounting used in any given jurisdiction, generally known for ensuring consistency and transparency.

Nonreciprocal Transaction

Transactions where one party transfers resources or obligations without directly receiving anything of approximately equal value in exchange.

Unconditional Promises

Commitments made by an entity that do not depend on future events or conditions for their execution.