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In 2012, Australia exported goods and services worth $1.84 trillion and imported goods and services worth $2.52 trillion. That resulted in a trade deficit of $0.68 trillion. In the same year, Australian Gross Domestic Product equaled $14.61 trillion. The index of openness for Australia in 2012 is _________. This indicates that Australia is relatively ________ to trade.
A) 12.59 ; closed
B) 12.59 ; open
C) 17.24 ; open
D) 17.24 ; closed
E) None of the answers.
This assignment assesses the following learning outcomes of this module. Application of theoretical concepts of International Business and Critically appraise the theoretical underpinnings of International Business
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