Which of the following countries has seen a relative decline in its sh

QUESTION

Which of the following countries has seen a relative decline in its share of world output between 1960 and 2012?

A. United States

B. Thailand

C. Japan

D. China

E. South Korea

ANSWER

A
In the early 1960s, the United States was still by far the world’s dominant industrial power. In 1960, the United States accounted for 38.3 percent of world output, measured by gross domestic product (GDP). This change in the U.S. position was not an absolute decline because the U.S. economy grew significantly between 1960 and 2012 (the economies of Germany, France, and the United Kingdom also grew during this time).