2. Refer to case study 4-3 slide 16 Chapter 4 (Demand and Supply, Offer Curves, and the Terms of Trade)Each group is to select one country from the G7 list. Find the export and import values for the year 1972, 2000 and 2011 for United Kingdom Case Study 4-3 The Terms of Trade of the G-7CountriesI TABLE 4.2. The Terms of Trade of the G-7 Countries, Selected Years, 1972-2011 (Export UnitValue + Import Unit Value; 2000 = 100)United StatesCanadaJapanGermanyUnited KingdomFranceItaly1972 1974 1980 1985 1990 1995127961091181071011061071098110582898090782000 200590 103 101 103 1009797107949797100 11712059668411510083689894110108 100105 103103 102101100 100 105 103100107 100111100*9496 100 1019989782010 2011951226099103100*96% Change1972-2011-2924-58-18-4-1°-10*refers to 2008Source: Elaborated from data in International Monetary Fund, Intemational Financial Statistics (Washington, D.C.: IMF,various issues).

Terms of trade refers to the ratio at which a country's exports are exchanged for its imports in…

2. Refer to case study 4-3 slide 16 Chapter 4 (Demand and Supply, Offer Curves, and the Terms of Trade) Each group is to select one country from the G7 list. Find the export and import values for the year 1972, 2000 and 2011 for United Kingdom

2. Refer to case study 4-3 slide 16 Chapter 4 (Demand and Supply, Offer Curves, and the Terms of Trade) Each group is to select one country from the G7 list. Find the export and import values for the year 1972, 2000 and 2011 for United Kingdom

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Chapter1: Making Economics Decisions

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Question

Case Study 4-3 The Terms of Trade of the G-7
Countries
I TABLE 4.2. The Terms of Trade of the G-7 Countries, Selected Years, 1972-2011 (Export Unit
Value + Import Unit Value; 2000 = 100)
United States
Canada
Japan
Germany
United Kingdom
France
Italy
1972 1974 1980 1985 1990 1995
127
96
109
118
107
101
106
107
109
81
105
82
89
80
90
78
2000 2005
90 103 101 103 100
97
97
107
94
97
97
100 117
120
59
66
84
115
100
83
68
98
94
110
108 100
105 103
103 102
101
100 100 105 103
100
107 100
111
100*
94
96 100 101
99
89
78
2010 2011
95
122
60
99
103
100*
96
% Change
1972-2011
-29
24
-58
-18
-4
-1°
-10
*refers to 2008
Source: Elaborated from data in International Monetary Fund, Intemational Financial Statistics (Washington, D.C.: IMF,
various issues).

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