Question

The proportion of world commercial services exports accounted for by ___________ has evidenced an overall decline since 1980.

A. the European Union

B. Africa

C. the United States

D. all of the above

E. two of A, B, and C

Answer 1

The proportion of world commercial services exports accounted for by two of A, B, and C has declined since 1980.

Step-by-step explanation:

The proportion of world commercial services exports accounted for by two of A, B, and C has evidenced an overall decline since 1980.

In recent decades, the export/GDP ratio has generally risen, both worldwide and for the U.S. economy. However, the share of U.S. exports in proportion to the U.S. economy is well below the global average, in part because large economies like the United States can contain more of the division of labor inside their national borders.

Smaller economies like Belgium, Korea, and Canada need to trade across their borders with other countries to take full advantage of division of labor, specialization, and economies of scale.