Factors that influence international trade In the 1950s, Imports and exports of

Question

Factors that influence international trade In the 1950s, Imports and exports of goods and services constituted roughly 4 % to 5 % of U.S. GDP. In recent years, exports have accounted for approximately 12% of GDP, while imports have more than tripled to over 15% of GDP, which of the following help to explain the increase in international trade and finance since the '50s? check all that apply. Improvements in telecommunications Increases in the global population Standardization of international commerce laws

Explanation / Answer

1. Improvement in telecommunications

2. Standardization of international commerce laws

These are the factors which affect the international trade. Improvement in telecommunications and standardization increases the imports and exports of a country thus affects the international trade.

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