Question

Which of the following is true? In recent decades, the volume of U.S. international trade has been declining as a share of the economy. Most of the textile products produced in the United States are exported abroad. The volume of U.S. trade with Canada is larger than for any other country. If one party to an international exchange gains, the other party must lose a similar amount.

Answer 1

Answer:

International trade has been declining as a share of the economy.

Explanation:

International trade as a percentage of the United States GDP increased slowly over the second half of the twentieth century, and the first decade of the twentieth-first century, from 9.17% in 1960, to a peak of 30.79% in 2011. However, in the last years, this percentage has been gradually declining. For example, in 2017, international trade as percentage of GDP was 27.09%.