Over the past six decades, the U.S. economy has experienced a dramatic increase in the relative importance of international trade and finance.

Question

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Since the end of World War II, the U.S. economy has become increasingly integrated into the global economy, with international trade and finance playing a much larger role in economic activity. This is evidenced by the growth in the volume of imports and exports as a percentage of GDP and the increased significance of international financial flows.

Over the Past Six Decades, the U