Which of the Following Statements About the Importance of Trade

question 27

Multiple Choice

Which of the following statements about the importance of trade to the Canadian economy is true?

• A)Since 1981, both exports and imports have steadily decreased as a fraction of U.S. gross domestic product.
• B)Overall, about 80 percent of Canadian jobs depend directly or indirectly on exports.
• C)Canadian exports account for approximately one-third of GDP.
• D)International trade plays very little part in the Canadian economy.

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Definitions:

Sales

The total amount of revenue generated from selling goods or services over a given period.

Retained Earnings

Retained earnings represent the portion of a company's net income that is kept within the company after dividends are paid to shareholders, used for reinvestment or debt payment.

December

The Gregorian calendar's final and twelfth month marks the end of the year.

Raw Materials

The basic materials that are processed or used to manufacture goods.