If a Country's Trade-To-GDP Ratio Is 38% and the GDP

question 79

Multiple Choice

If a country's trade-to-GDP ratio is 38% and the GDP is $500 billion, then what is the overall value of its trade (imports plus exports) ?

• A) $390 billion
• B) $190 billion
• C) $100 billion
• D) Not enough information is provided to answer the question.

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Definitions:

Product Line Extension

The addition of new products to an existing product line within the same brand, usually to target a different customer segment or fill a gap in the product offering.

New-Product Strategies

The plans and approaches a business undertakes to bring new products to the market effectively.

Product Diversification

A strategy employed by companies to increase profitability and achieve growth by adding new products or entering into different markets that differ from the existing lineup.

Brand Extension

The strategy of using an established brand name to launch a new or modified product in a different category.