Question

How has the pattern of trade changed in the United States since 1960?

A. Exports and imports have grown at the same rate, and the United States has remained a net exporter.
B. Imports have grown faster than exports, and the United States has become a net importer.
C. Exports have grown faster than imports, and the United States has become a net importer.
D. Imports have grown faster than exports, and the United States has remained a net exporter.
E. Exports have grown faster than imports, and the United States has remained a net exporter.

Answer 1

Answer:

The correct answer is letter "B": Imports have grown faster than exports, and the United States has become a net importer.

Explanation:

International trade is not just a major engine of the U.S. economy, but for the global economy. The total trade share in terms of the global Gross Domestic Product was 25% in 1960 and it has raised to 56% in 2017. Though, imports have surpassed the level of exports, making America be a net importer. Main imports are in the form of raw materials for the production of different goods mainly vehicles, and clothing.