Question

What similarities exist between Virginia’s economy and the global economy? Select all that apply. (1 point) Responses Both economies involve more imports than exports. Both economies involve more imports than exports. Services make up the largest portion of both economies. Services make up the largest portion of both economies. The United States dollar is the currency of both economies. The United States dollar is the currency of both economies. Both economies were harmed by the COVID-19 pandemic.

Answer 1

The similarities that exist between Virginia’s economy and the global economy include:

1. Services make up the largest portion of both economies.
2. Both economies were harmed by the COVID-19 pandemic.

The other options regarding imports and exports, as well as the currency, may not be directly applicable. While Virginia, as part of the U.S., does have a trade balance, a blanket statement about imports outweighing exports may not universally apply. Additionally, the global economy comprises various currencies, not just the U.S. dollar.