Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. 1. Imports, exports, and the trade balanceThe following table shows the approximate value of exports and imports for the United States from 1997 through 2001.Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to thenearest hundredth.Year19971998199920002001GDPExports(Billions of dollars) (Billions of dollars)8,332.0954.48,794.0953.99,354.0989.39,952.01,093.210,286.01,027.7ImportsExports(Billions of dollars) (Billions of dollars)1,055.8Between 1997 and 1998, the1,115.71,251.41,475.31,398.7Source: "Income, Expenditures, Poverty, & Wealth: Gross Domestic Product (GDP)," United States Census Bureau, United States Department of Commerce, last modifiedSeptember 2011, accessed June 10, 2013, https://www.census.gov/library/publications/2011/compendia/statab/131ed/income-expenditures-poverty-wealth.html.Imports(Percentage of GDP)in dollar terms andas a percentage of GDP.

The buyers and sellers exchange goods across international borders is known as international trade.…

1. Imports, exports, and the trade balance The following table shows the approximate value of exports and imports for the United States from 1997 through 2001. Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth. Year 1997 1998 1999 2000 2001 GDP Exports Imports. Exports- Imports (Billions of dollars) (Billions of dollars) (Billions of dollars) (Billions of dollars) (Percentage of GDP) 8,332.0 954.4 1,055.8 953.9 989.3 1,093.2 1,027.7 8,794.0 9,354.0 9,952.0 10,286.0 1,115.7 1,251.4 1,475.3 1,398.7 Source: "Income, Expenditures, Poverty, & Wealth: Gross Domestic Product (GDP), United States Census Bureau, United States Department of Commerce, last modified September 2011, accessed June 10, 2013, https://www.census.gov/library/publications/2011/compendia/statab/131ed/income-expenditures-poverty-wealth. html. Between 1997 and 1998, the in dollar terms and as a percentage of GDP.

1. Imports, exports, and the trade balance The following table shows the approximate value of exports and imports for the United States from 1997 through 2001. Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth. Year 1997 1998 1999 2000 2001 GDP Exports Imports. Exports- Imports (Billions of dollars) (Billions of dollars) (Billions of dollars) (Billions of dollars) (Percentage of GDP) 8,332.0 954.4 1,055.8 953.9 989.3 1,093.2 1,027.7 8,794.0 9,354.0 9,952.0 10,286.0 1,115.7 1,251.4 1,475.3 1,398.7 Source: "Income, Expenditures, Poverty, & Wealth: Gross Domestic Product (GDP), United States Census Bureau, United States Department of Commerce, last modified September 2011, accessed June 10, 2013, https://www.census.gov/library/publications/2011/compendia/statab/131ed/income-expenditures-poverty-wealth. html. Between 1997 and 1998, the in dollar terms and as a percentage of GDP.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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