Which of the following statements about the importance of trade to the U.S. economy is false?
A) The U.S. economy is highly dependent on international trade for growth in its 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 second largest exporter in the world.
D) Since 1970, both exports and imports have steadily increased as a fraction of U.S. gross domestic product.
A
Economics
You might also like to view...
An outward shift of the production possibilities curve demonstrates
A) economic growth. B) an increased rate of inflation. C) a cyclical shock. D) a recession.
Economics
Using the data in the above table, gross domestic product as calculated by the income approach equals ________
A) $2,333 B) $2,592 C) $2,925 D) $2,205
Economics