Final answer:
The fastest-growing sector of world trade includes all of the listed options (travel and entertainment, accounting and legal services, royalties and license fees, and engineering services) due to the increasing importance of services in the global economy.
Step-by-step explanation:
The fastest-growing sector of world trade reflects the broad shift from goods to services in the global economy. Services, including transport, tourism, financial and legal services, use of intellectual property, telecommunications, and information services, have been experiencing a rapid increase. Specifically, trade in services, with a focus on sectors such as tourism, financial and legal services, and intellectual property, now exceeds $6.1 trillion, representing over one-fifth of the total world trade in goods and services. The surge in international trade in services over the last two decades has been powered by technological advances that enable the export and import of services such as finance, law, advertising, management consulting, and engineering services.
Considering all the information provided, the fastest-growing sector of world trade is not limited to a single category but is represented by multiple areas of service such as travel and entertainment, accounting and legal services, royalties and license fees, engineering services, and others. Therefore, the correct answer to the question is E) all of the above.