Considering the figure below, please explain the reasons of different movements of two lines (nominal and absolute cost of transport). in nominal US dollar (annual average)4000- in 1968 US dollar350030002502000Figure 1.8 Trans-Pacific container freight rates, US$ per FEU, 1968-2019.91072004-S661966106619561T86105611972-8961

The major reason for different lines showing the nominal and absolute cost of transportation: THE…

Answered: Considering the figure below, please…

Considering the figure below, please explain the reasons of different movements of two lines (nominal and absolute cost of transport).

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

Considering the figure below, please explain the reasons of different movements of two lines (nominal and absolute cost of transport).

in nominal US dollar (annual average)
4000
- in 1968 US dollar
3500
3000
250
2000
Figure 1.8 Trans-Pacific container freight rates, US$ per FEU, 1968-2019.
9107
2004-
S661
9661
0661
9561
T861
0561
1972-
8961

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