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9.6 The difference between level of trade and the trade balance  (Page 5/8)

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    The United States exports 14% of GDP while Germany exports about 50% of its GDP. Explain what that means.

    Germany has a higher level of trade than the United States. The United States has a large domestic economy so it has a large volume of internal trade.

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Source:  OpenStax, Principles of macroeconomics for ap® courses. OpenStax CNX. Aug 24, 2015 Download for free at http://legacy.cnx.org/content/col11864/1.2
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