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Chapter 10: Q. 5 (page 265)

At one point Canada’s GDP was \(1,800billion and its exports were \)542billion. What was Canada’s export ratio

at this time?

Short Answer

Expert verified

Canada's export ratio at that time is30.1%.

Step by step solution

01

Step 1. Meaning of export ratio.

The export ratio is a ratio of exports of goods and services as a percentage of gross domestic product.

02

Step 2. Calculation of export ratio.

GDP=$1,800billion.

Exports =$542billion.

The export ratio is,

(exportGDP×100)%=(5421,800×100)%=(0.301×100)%=30.1%

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