Answered

Which of these is true about the U.S. economy in the early 21st century? (1 point)
The United States has the world's largest economy.
The United States exports more goods than any other nation.
OU.S. households enjoy the highest standard of living in the world.
The United States did not participate in any international economic organizations.



Answer :

GinnyAnswer

Final answer:

The U.S. has the world's largest economy and high standard of living. Its export/GDP ratio is below global average due to internal division of labor. The U.S. economy leads in total GDP and GDP per capita.


Explanation:

The United States possesses the world's largest economy with a GDP estimation of $16.6 trillion in 2013. Despite being home to 4.5% of the world's population, it controls 23% of the world's wealth and ranks fifteenth in overall standard of living according to the Human Development Index.

In recent years, the export/GDP ratio has increased globally, but the U.S. economy has exports that are proportionally below the global average due to its ability to manage more division of labor within its borders.

The U.S. economy has the largest GDP in the world both in total and per capita, showcasing its economic dominance and significance on the global stage.


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