Answer the following questions using the BEA Tables for US InternationalTrade in Goods and Services B.Scroll down to the "U.S. Trade in Goods and Services, 1960-present" anddownload those spreadsheets. Using annual data from Table 1:Calculate the growth rate in U.S. exports over the last five years. Report youranswer rounded to the nearest tenth.%Calculate the growth rate in U.S. imports over the last five years. Report youranswer rounded to the nearest tenth.% beaData ▾Tools ▾ News ▾ Research ▾February 2023January 2023U.S. International Trade in Goods and Services, February 2023ResourcesCurrent Release: April 5, 2023About -Current ReleaseThe U.S. monthly international trade deficit increased in February 2023 according tothe U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficitincreased from $68.7 billion in January (revised) to $70.5 billion in February, asexports decreased more than imports. The goods deficit increased $2.7 billion inFebruary to $93.0 billion. The services surplus increased $0.8 billion in February to$22.4 billion.-$70.5 B-$68.7 BNext release: May 4, 2023Help ▾Billion $11510595857565550Feb 2021Goods and Services Trade DeficitSeasonally adjustedMonthly deficitU.S. Bureau of Economic AnalysisU.S. Census BureauSearchFeb 2022Three-monthmoving averageFeb 2023U.S. International Trade in Goods and ServicesApril 5, 2023C

Formula for the CAGR is given as: CAGR = (Final Value / beginning value)1/years - 1

Answer the following questions using the BEA Tables for US International Trade in Goods and Services >. Scroll down to the "U.S. Trade in Goods and Services, 1960-present" and download those spreadsheets. Using annual data from Table 1: Calculate the growth rate in U.S. exports over the last five years. Report your answer rounded to the nearest tenth. % Calculate the growth rate in U.S. imports over the last five years. Report your answer rounded to the nearest tenth. %

Answer the following questions using the BEA Tables for US International Trade in Goods and Services >. Scroll down to the "U.S. Trade in Goods and Services, 1960-present" and download those spreadsheets. Using annual data from Table 1: Calculate the growth rate in U.S. exports over the last five years. Report your answer rounded to the nearest tenth. % Calculate the growth rate in U.S. imports over the last five years. Report your answer rounded to the nearest tenth. %

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

Problem 5E

See similar textbooks

Similar questions

Sketch a diagram of how a budget deficit causes a trade deficit. (Hint: Begin with what will happen to the exchange rate when foreigners demand more U.S. government debt.)
Why does a recession cause a trade deficit to increase?
What determines the size of a countrys trade deficit?
When is a trade deficit likely to work out well for an economy? When is it likely to work out poorly?
Is this right
4. Analyzing the effects of a trade deficit You have just been hired by the U.S. government to analyze the following scenario. Suppose the U.S. agricultural industry is concerned about the level of fruit and vegetable imports to the United States, a practice that hurts domestic producers. Lobbyists claim that implementing a tariff on imports would shrink the size of the trade deficit. The following exercise will help you to analyze this claim. The following graph shows the demand and supply of U.S. dollars in a model of the foreign-currency exchange market. Shift the demand curve, the supply curve, or both to show what would happen if the government decided to implement the tariff. Supply IN Demand QUANTITY OF DOLLARS REAL EXCHANGE RATE (Units of foreign currency per dollar) Demand Supply ?
4. Analyzing the effects of a trade deficit You have just been hired by the U.S. government to analyze the following scenario. Suppose the U.S. agricultural industry is concerned about the level of fruit and vegetable imports to the United States, a practice that hurts domestic producers. Lobbyists claim that implementing a tariff on imports would shrink the size of the trade deficit. The following exercise will help you to analyze this claim. The following graph shows the demand and supply of U.S. dollars in a model of the foreign-currency exchange market. Shift the demand curve, the supply curve, or both to show what would happen if the government decided to implement the tariff. REAL EXCHANGE RATE (Units of foreign currency per dollar) QUANTITY OF DOLLARS Given this change, the dollar Supply Change due to a tariff Demand Fill in the following table with the effect of a tariff on the following items: Demand Supply (?) Demand for Loanable Funds Real Interest Rate National Saving Net…
4. Analyzing the effects of a trade deficit Suppose the U.S. government has just hired you to analyze the following scenario. Assume the U.S. agricultural industry grows concerned about the amount of fresh fruit imports to the United States, a practice that harms domestic producers. Industry experts claim that implementing a tariff on imports would reduce the size of the trade deficit. Complete the following exercise in order to help you analyze this claim. The following graph shows the demand and supply of U.S. dollars in a model of the foreign-currency exchange market. Shift the demand curve, the supply curve, or both to show what would happen if the government decided to implement the tariff. REAL EXCHANGE RATE (Units of foreign currency per dollar) Supply QUANTITY OF DOLLARS Demand Demand Supply ?
4. Analyzing the effects of a trade deficit Suppose the U.S. government has just hired you to analyze the following scenario. Assume the U.S. agricultural industry grows concerned about the amount of fresh fruit imports to the United States, a practice that harms domestic producers. Industry experts claim that implementing a tariff on imports would reduce the size of the trade deficit. Complete the following exercise in order to help you analyze this claim. The following graph shows the demand and supply of U.S. dollars in a model of the foreign-currency exchange market. Shift the demand curve, the supply curve, or both to show what would happen if the government decided to implement the tariff. REAL EXCHANGE RATE (Units of foreign currency per dollar) Supply QUANTITY OF DOLLARS Demand Demand -0- Supply Ⓡ
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 absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.YearGDPExportsImportsExports – Imports(Billions of dollars)(Billions of dollars)(Billions of dollars)(Billions of dollars)(Percentage of GDP)19978,332.0 954.41,055.8 19988,794.0 953.91,115.7 19999,354.0 989.31,251.4 20009,952.0 1,093.21,475.3 200110,286.0 1,027.71,398.7 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.
4. Analyzing the effects of a trade deficit Suppose the U.S. government has just hired you to analyze the following scenario. Assume the U.S. automobile industry grows concerned about foreign manufacturers exporting fuel-efficient vehicles to the United States, a practice that harms domestic producers. Industry experts claim that implementing a quota on imports would reduce the size of the trade deficit. Complete the following exercise in order to help you analyze this claim. The following graph shows the demand and supply of U.S. dollars in a model of the foreign-currency exchange market. Shift the demand curve, the supply curve, or both to show what would happen if the government decided to implement the quota. REAL EXCHANGE RATE (Units of foreign currency per dollar) Supply QUANTITY OF DOLLARS Given this change, the dollar appreciates Change due to a quota D2 D1 Demand Supply Fill in the following table with the effect of a quota on the following items: Supply of Loanable Funds Real…
1. Imports, exports, and the trade balance The following table shows the approximate value of export and imports for the United States from 1997 through 2001 Complete the table by calculating the surplus or deficit both dollar terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth. GDP Exports Year (Billions of dollars) (Billions of dollars) 1997 8,332.0 954.4 1998 8,794.0 1999 9,354.0 9,952.0 10,286.0 2000 2001 953.9 989.3 1,093.2 1,027.7 Imports Exports - Imports (Billions of dollars) (Billions of dollars) (Percentage of GDP) 1,055.8 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 Departmer Commerce, last modified September 2011, accessed June 10, 2013, https://www.census.gov/library/publications/2011/compendia/statab expenditures-poverty-wealth.html. Between 1999 and 2000, the as a percentage of GDP. in dollar terms