Which of the following statements about world trade flows is most accurate?
A) The EU (European Union) is the world leader in terms of GDP (gross domestic product).
B) The relative position of the United States as a supplier to the world has increased because of an absolute growth in exports.
C) The United States is running a continuing trade surplus because it has the world's largest gross domestic product.
D) The United States' relative role as an exporter remains strong in the area of aerospace.
E) During the past 30 years, the relative position of the United States in terms of GDP has remained stable despite the fact that actual value of products and services has increased.

Question

Quizplus · Accepted Answer

The statement that the United States' relative role as an exporter remains strong in the area of aerospace is the most accurate. This is supported by data that shows the United States as the largest aerospace exporter in the world. The other statements are not accurate. The EU is not the world leader in terms of GDP; China currently holds this position. The United States has a trade deficit, not a surplus. The relative position of the United States in terms of GDP has declined over the past 30 years as other countries, particularly China, have experienced rapid economic growth.

Which of the Following Statements About World Trade Flows Is