Which of the Following Statements Is True of Global Trade

question 9

Multiple Choice

Which of the following statements is true of global trade patterns?

• A) The annual rate of output is less than the total merchandise trade.
• B) In most countries, the share of trade as a percentage of the national economy has reduced.
• C) Import and export growth has outpaced the rate of increase in GNP.
• D) The share of agriculture in exports has increased over the past decade.

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Definitions:

Political Suicide

Actions or decisions by a politician that are likely to seriously harm their own career or reputation.

Gasoline Consumption

This term measures the amount of gasoline used by vehicles within a certain area or by a country over a specified time period.

Federal Gasoline Tax

A tax imposed by the federal government on the sale of gasoline, primarily used to fund highway and mass transit projects.

Shipping Costs

These are expenses associated with the transportation of goods from one location to another, influenced by factors like distance, fuel prices, and shipping method.