Actual NationalIncome (Y)(Billions of $)100200300400500600700800Net ExportsImports(Billions of $) (Billions of $)951401852302753203654101056015-30-75-120-165-210b. Use the line drawing tool to draw and label the net export function in the graph to the right. Makesure that line passes through all the points from the table.Carefully follow the instructions above, and only draw the required objects.The net export function is downward sloping becauseOA X-IM rises as real national income risesOB. increases in real national income lead to increases in IM and X.C. X-IM falls as real national income rises.OD. increases in real national income lead to increases in exports but leave imports unchanged.c. Suppose desired imports are given by IM=m+m,Y. Using the data in the table, determine thevalues of m, and m, (Round your response for m, to two decimal places and round your responsefor me to the nearest whole value)The value of m, isNet Exports (5 billions)300270240210180-150-120-9030300-30-60-90-120-150-180210240270-300Net Exports Function200 200GOORH200 1.000Actual National Income ($ billions)ode

The net export is the nation’s total trade. The one who wants to find the net exports is subtracting…

Actual National Income (Y) (Billions of 5) 100 200 300 400 500 600 700 800 Imports Net Exports (Billions of $) (Billions of 5) 95 140 185 230 275 320 365 410 105 60 15 -30 -75 120 -165 -210 b. Use the line drawing tool to draw and label the net export function in the graph to the right. Make sure that line passes through all the points from the table. Carefully follow the instructions above, and only draw the required objects The net export function is downward sloping because OA X-IM rises as real national income rises OB increases in real national income lead to increases in IM and X X-IM taills as real national income rises OD. increases in real national income lead to increases in exports but leave imports unchanged c. Suppose desired imports are given by IM-m+m,Y. Using the data in the table, determine the values of me and m, (Round your response for m, to two decimal places and round your response for m, to the nearest whole value) The value of m, is Net Exports (5 billions) 300 270 240 2104 180 150 120- P 50 303 o -30 -120 -150 -180 210 -240 -270- 300 Net Exports Function 200 18 Actual National Income (5 billions) 1000

Actual National Income (Y) (Billions of 5) 100 200 300 400 500 600 700 800 Imports Net Exports (Billions of $) (Billions of 5) 95 140 185 230 275 320 365 410 105 60 15 -30 -75 120 -165 -210 b. Use the line drawing tool to draw and label the net export function in the graph to the right. Make sure that line passes through all the points from the table. Carefully follow the instructions above, and only draw the required objects The net export function is downward sloping because OA X-IM rises as real national income rises OB increases in real national income lead to increases in IM and X X-IM taills as real national income rises OD. increases in real national income lead to increases in exports but leave imports unchanged c. Suppose desired imports are given by IM-m+m,Y. Using the data in the table, determine the values of me and m, (Round your response for m, to two decimal places and round your response for m, to the nearest whole value) The value of m, is Net Exports (5 billions) 300 270 240 2104 180 150 120- P 50 303 o -30 -120 -150 -180 210 -240 -270- 300 Net Exports Function 200 18 Actual National Income (5 billions) 1000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Calculate median income in 2000 (real) dollars for each of the 3 years. Suppose GDP in current (nominal) dollars and the GDP price index for the United States are as follows: Year 1990 2000 2005 GDP in current dollars (trillions) 6.0 10.0 15.0 Calculate GDP in 2005 (real) dollars for each of the 3 years. Price index [2000=100] 80 100 125
:= 1:36 MicrolnternationalProject 5G 49 Done International Aspect of Project Homework Below is an except pasted from a semester project for this course (broken into two pieces). Your task is to respond to this prompt and to cite at least one source. For this assignment, the source may be scholarly or from a periodical. Your source should be documented as a reference using APA style. Be sure to respond to the prompt using concepts from our course. You may use models to illustrate your points. 1. American solar farms receive billions of dollars in taxpayer subsidies each year. These subsidies allow them to substitute grain production for energy production. How do U.S. solar farm subsidies hurt or benefit Mexican farmers? 2. What does this imply for U.S. food production independence? What could be done to address this problem, and would the solution be effective? Notice, having a positive effect, a negative effect or no net-effect is a possibility on Mexican farmers. Whatever your answer,…
Budget Analysis (9’) The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Assuming City A’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City A’s population in 2030. Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. Calculate the compound annual growth rate of per capita spending from 2010 to 2020
Consider the data points in the table below Y. 80.0 60.0 1.0 2.0 3.0 400 200 00 4.0 Graphing these points results in line that passes through the point (3.0, (Round your response to one decimal place) 5435
A hypothetical country of Narnia produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown in the following table. The base year is 2017. Year 2016 2017 2018 2019 Price (Dollars per movie) 7.6% 7.5% Movies 7.2% 7% 10.00 11.00 12.00 12.00 Quantity Quantity (Movies) (Dollars per bag) (Bags) 500 600 650 625 Popcorn Refer to Table 23-5. What was the rate of inflation for Narnia in 2019? (Hint: round-off to the nearest decimal point) Price 5 4 5 6 1,000 900 950 925
(1) Use the data from the following table to calculate the GDP per capita of each country. The GDP per capita for Estonido and for Galicia in 2018 is Country Year GDP (billions in U.S. $) Population (millions) Estonido 2017 525.50 73 Galicia 1,658.00 118.25 Estonido 2018 721.75 78 Galicia 1,724.30 121.8 (a) $925 for Estonido and $1,412 for Galicia in 2017. (b) $9,253 for Estonido and $14,157 for Galicia in 2017. (c) $7,199 for Estonido and $14,021 for Galicia in 2017. (2) When calculating GDP as the sum total of all spending, which of the following should be included? (a) government purchases of labor, goods, and services. (b) government transfer payments. (c) savings. (3) For productivity to increase (a) the total number of hours worked has to increase. (b) the value of the production per hour worked has to increase. (c) the total production or output has to increase.
The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP(trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010).$ trillion(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)$ trillion(d) Use your answer from part (c) to…
Please give a detailed solution with an explanation. For the graph make sure it is readable, visible, and make sure you clearly label the x and y coordinates and the graph movement (if applicable).
The table below shows the annual population and nominal total GDP for New Zealand. Based on the data, which of the following options are correct? Select one correct answer. 4 Year 2015 2016 New Zealand Key Figures GDP (Current US $) $ 178,064,471,137.92 $ 188,838,342,527.98 Population 4,609,400 4,714,100 O GDP per capita in 2016 was $40,058.20 GDP per capita fell by 3.70% in 2016 compared to the previous year O New Zealand's population and GDP both rose such that the overall GDP per capita growth rate was zero O GDP per capita rose by 3.56% in 2016 compared to the previous year
Use the blue points (circle symbol) to plot the total expenditure line for this economy at an income of $500 billion, $600 billion, $700 billion, $800 billion, and $900 billion. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) X 700 600 O I 600 700 800 REAL GDP (Billions of dollars) 1000 REAL EXPENDITURE (Billions of dollars) 900 800 500 400 400 500 900 1000 O TE line + Equilibrium GDP Use the black point (plus symbol) to indicate the equilibrium in this economy, that is, where total expenditure and income are equal. Note: Dashed drop lines will automatically extend to both axes. Suppose real GDP is currently $900 billion. Assuming the price level remains constant, this would mean that current output exceeds aggregate expenditure by $100 billion, which would send a signal to firms to decrease production The marginal propensity to consume (MPC) for this economy is ▼ and the oversimplified multiplier for…