1. Which of the following is true and which is false: a) The trade-to-GDP ratio for a nation that had €600 million in exports, €400 million in imports, and GDP of €2,000 million is equal to 0.5. b) The trade-to-GDP ratio for a nation that had €600 million in exports, €400 million in imports, and GDP of €2,000 million is equal to 0.05. c) A trade-to-GDP ratio in percentage terms equal to 120% means that the country exchanges 1.2 times worth of goods and services of what it generates domestically over a certain period.
1. Which of the following is true and which is false:
a) The trade-to-
and GDP of €2,000 million is equal to 0.5.
b) The trade-to-GDP ratio for a nation that had €600 million in exports, €400 million in imports,
and GDP of €2,000 million is equal to 0.05.
c) A trade-to-GDP ratio in percentage terms equal to 120% means that the country exchanges
1.2 times worth of goods and services of what it generates domestically over a certain period.
d) The trade-to-GDP ratio is a measure of how income distribution between nations.
e) The trade-to-GDP ratio is a measure of how intensively a country participates in international
trade.
f) The higher the trade-to-GDP ratio, the stronger is the
world markets
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