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No, it is not true.

Think about it for a moment. There are fewer than 92 naturally occurring non-radioactive elements. If "trace elements" made up 99 percent of something, then at least one of them is present in greater quantity than the remaining one percent. It's pretty silly to call the element which is present in the greatest quantity a trace element.

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Q: What percentage of the 103 elements are present in living matter?
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