Question

Comparing the U.S. economy today to that of 1950, one finds that today, as a percentage of GDP,

a. exports and imports are both higher.
b. exports and imports are both lower.
c. exports are higher, and imports are lower.
d. exports are lower, and imports are higher.

Answer 1

The correct answer for the question that is being presented above is this one: "d. exports are lower, and imports are higher." Comparing the U.S. economy today to that of 1950, one finds that today, as a percentage of GDP, exports are lower, and imports are higher.

Answer 2

Comparing the US economcy today to that of 1950s, one finds that today as a percenage of GDP, both imports and exports are higher - a.

The main reason for this is the fact that the world has become a very intertwined enterprise where everyone is trading with each other. This enables for more trade to happen for everyone.