Volume and Direction of International Trade This exercise gives you the chance to examine the volume of international trade, the nations that import and export the most goods and services, and the importance of major trading partners. The volume of international trade, the largest trading nations, the direction of trade, and the relevance of major trading partners will be concepts reviewed. Reread the sections in your book entitled, "International Trade." "Direction of Trade." and "Major Trading Partners: Their Relevance for Managers before attempting to complete this exercise. Read the case below and answer the questions that follow, Melissa Sanchez (a disguised name) is an undergraduate business student at a university in the United States. She is trying to decide what she wants to do for a career after she earns her degree. A friend suggested that international trade was a large and growing area of business activity, and that there were some excellent career opportunities as a result, Melissa was intrigued by this idea, but she did not know very much about what international trade entailed, such as what the volume of international trade was, whether it was growing or shrinking or by how much, or which countries are the most active in exporting or importing goods and services. Since Melissa wanted to be based in the United States, she also wondered which countries might be the most important trade partners for the United States. Which statement accurately portrays the volume of goods and services traded in 2017? Multiple Choice The volume of goods and services traded in 2017 was almost six times larger than the $4 trillion of trade in 1990, O Physical goods such as automobiles, food, and clothing accounted for about one third of all international trade in 2017 Trade in services is growing more slowly than trade in merchandise. Trade in services including activities such as travel music, and movies accounted for about $18 trillion of total trade in 2017