Asked by Courtney Cridland on May 12, 2024
Verified
Which of the following statements is false?
A) In recent years, the United States has had large annual trade deficits in goods.
B) The United States imports some of the same categories of goods as it exports.
C) China has the largest share of world exports.
D) As a percentage of GDP, U.S. exports are the highest among the industrially advanced nations.
World Exports
The total value or volume of goods and services sent from one country to be sold or traded in other countries.
Trade Deficits
A situation in which a country's imports of goods and services exceed its exports, leading to a net outflow of domestic currency to foreign markets.
Industrially Advanced
Refers to countries or regions that have highly developed industries, technology, and infrastructure, contributing to a strong economy.
- Pinpoint principal actors in exportation worldwide and appreciate their pivotal roles in the sphere of international trade.
- Identify the effect that disparate production efficiencies have on international commerce.
Verified Answer
Learning Objectives
- Pinpoint principal actors in exportation worldwide and appreciate their pivotal roles in the sphere of international trade.
- Identify the effect that disparate production efficiencies have on international commerce.
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