Which of the followings has occurred since the end of World War II, in the area of international trade?

a. world trade has grown more slowly than during the years leading up to World War II.

b. the trade-to-GDP ratios of most countries have fallen.

c. trade is less important to most nations' economies than in the early part of the twentieth century.

d. world trade has grown more rapidly than world output.

Question

George Miller

History

7 December, 03:02

Which of the followings has occurred since the end of World War II, in the area of international trade?

a. world trade has grown more slowly than during the years leading up to World War II.

b. the trade-to-GDP ratios of most countries have fallen.

c. trade is less important to most nations' economies than in the early part of the twentieth century.

d. world trade has grown more rapidly than world output.

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Answers (1)

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Timber · Answer 1

d. world trade has grown more rapidly than world output.

Explanation:

International trade has been increased and several factors are contributing to it:

a) There is a trend of decline in the cost of trade which includes transportation, currency exchange, etc.

b) Higher growth of goods produced for trading than nontrading products.

c) There is an increase in the per capita income which means now consumers can shift their focus on trading goods.