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Calculate the trade-to-GDP ratio for a country that has a 5 percent growth rate, $600 million in exports, $400 million in imports, and gross domestic product (GDP) of $2,000 million.

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter23: Growth And Less Developed Countries

Section23.2: Economic Growth And Development Around The World

Problem 1GE

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Calculate the trade-to-GDP ratio for a country that has a 5 percent growth rate, $600 million in exports,
$400 million in imports, and gross domestic product (GDP) of $2,000 million.

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