6 . Imports, exports, and the trade balancehe following table shows the approximate value of exports and imports for the United States from 1968 through 1972.Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to thenearest hundredth.Year19681969197019711972GDP(Billions of dollars)910.0985.01,039.01,127.01,238.0Exports(Billions of dollars)47.951.959.763.070.8Between 1970 and 1971, theImportsExports(Billions of dollars) (Billions of dollars)46.650.555.862.374.2WWWSource: "Income, Expenditures, Poverty, & Wealth: Gross Domestic Product (GDP)," United States Census Bureau, United States Department of Commerce, last modifiedSeptember 2011, accessed June 10, 2013, https://www.census.gov/sbrary/publications/2011/compendia/statab/131ed/income-expenditures-povertywealth.html.Imports(Percentage of GDP)in dollar terms andas a percentage of GDP

GDP refers to the market value of final goods and services produced in a country during a particular…

the following table shows the approximate value of exports and imports for the United States from 1968 through 1972. and the trade balance Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth Year 1968 1969 1970 1971 1972 GDP Exports Imports Exports-Imports (Billions of dollars) (Billions of dollars) (Billions of dollars) (Billions of dollars) (Percentage of GDP) 910.0 47.9 46.6 985.0 51.9 50.5 1,039.0 59.7 55.8 1,127.0 63.0 62.3 1,238.0 70.8 74.2 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 1970 and 1971, the in dollar terms and as a percentage of GDP

the following table shows the approximate value of exports and imports for the United States from 1968 through 1972. and the trade balance Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth Year 1968 1969 1970 1971 1972 GDP Exports Imports Exports-Imports (Billions of dollars) (Billions of dollars) (Billions of dollars) (Billions of dollars) (Percentage of GDP) 910.0 47.9 46.6 985.0 51.9 50.5 1,039.0 59.7 55.8 1,127.0 63.0 62.3 1,238.0 70.8 74.2 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 1970 and 1971, the in dollar terms and as a percentage of GDP

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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