Which of the Following Statements About the Importance of Trade

question 41

Multiple Choice

Which of the following statements about the importance of trade to the U.S.economy is false?

• A) Since 1950, both exports and imports have steadily increased as a fraction of U.S. gross domestic product.
• B) Overall, about 20 percent of U.S. manufacturing jobs depend directly or indirectly on exports.
• C) The United States is the largest exporter in the world.
• D) The U.S. economy is highly dependent on international trade for growth in its gross domestic product.

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Definitions:

Capital

Resources made and used by people to produce and distribute goods and services, including tools, machinery, and buildings.

Bulldozer

A heavy piece of equipment used in construction to move or remove large amounts of earth or debris, featuring a large flat blade.

Savings Bond

A government bond that offers a fixed interest rate over a fixed period of time, often considered a safe investment.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.).