• Card 11 / 13: Why might Belgium, France, Italy, and Sweden have a higher export to GDP ratio than the United States?

    Answer:
    The United States is a large country economically speaking, so it has less need to trade internationally than the other countries mentioned. (This is the same reason that France and Italy have lower ratios than Belgium or Sweden.) One additional reason is that each of the other countries is a member of the European Union, where trade between members occurs without barriers to trade, like tariffs and quotas.

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Microeconomics 01 What Is Economics?

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Attribution:  Microeconomics, OpenStax-CNX Web site. Download for free at http://cnx.org/content/col11613/latest
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