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Index of openness for australia

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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.

Reference no: EM131218365

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