What similarities exist between Virginia’s economy and the global economy? Select all that apply.

Question

(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:

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

The other statements regarding imports and exports may not universally apply, as the balance of trade can vary widely, and while Virginia does have a significant services sector, the implications of currency (the use of the U.S. dollar) are more specific to the U.S. economy than to the global economy as a whole.