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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

In what way does comparing a country’s exports to GDP reflect its degree of globalization?

To determine

To show: the degree of globalization when exports are being compared to GDP.

Explanation

GDP is Gross Domestic Product which is the money value of goods and services produced in a given accounting year at current prices.

Globalization describes the way in which countries interact. It can be due to trade or conventions.

If any country's exports increases means the country is producing more dome...

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