This 9 of 30 (5 complete) This Question: 3 pts Imports Exports GDP Nation A Nati

Question

This 9 of 30 (5 complete) This Question: 3 pts Imports Exports GDP Nation A Nation B Nation C World (Billions 5) (Billions $) (Billions $) 1950 2005 1950 2005 1950 2005 5 200 10 300 100 1,000 20 2801 20 3001 400 2,000 25 520 20 400 500 4,000 50 1,000 50 1,000 1,000 7,000 According to the economic data shown above from 1950 to 2005 world economic activity as measured by GDP increased- fold TSI fer On the other hand, over the same time period world trade increased fold I- seven Uoing only the 2005 data,for which nation does tade have the highest share of national economic activity? trade have the highest share of national economic activity? twenty O A. C OB. A OC. B D. All are equal ign

Explanation / Answer

1. Seven folds because GDP increases from 1000 to 7000 billion dollars i.e. 1000 x 7

2. Twenty because imports and exports increased from 50 to 1000 i.e. 50 x 20

3. % of Nation A: (Exports - Imports)/GDP x 100 = (300 - 200)/1000 x 100 = 10%

Nation B: (300 - 280)/2000 x 100 = 2000/2000 = 1%

Nation C: (400 - 520)/4000 x 100 = - 12000/4000 = - 3%

So, answer is B) Nation A

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