Complete the table. Please note that the world price of T in terms of S is 0.5 and GDP calculated in terms of S. Production of T Consumption of T Export of T Production of S Consumption of S Import of S TOT GDP Before Trade 1440 600 720 0,5 After Trade 1800 618 0,5 Percentage Change

Complete the table. Please note that the world price of T in terms of S is 0.5 and GDP calculated in terms of S. Production of T Consumption of T Export of T Production of S Consumption of S Import of S TOT GDP Before Trade 1440 600 720 0,5 After Trade 1800 618 0,5 Percentage Change

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What happened to K/L ratio in this country and what are the effects of the new K/L ratio on its production pattern and trade volume. Explain

Complete the table. Please note that the world price of T in terms of S is 0.5 and GDP
calculated in terms of S.
Before Trade
|After Trade
Percentage Change
Production of T
Consumption of T
Export of T
Production ofS
Consumption of S
Import of S
1440
1800
600
618
720
тот
0,5
0,5
GDP

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