Whether the volume of export and import are increased or decreased after 1950.

Question

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Answer 1

Question

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Export: Export refers to trading of goods and services from one country to another country.

Import: It refers to goods and services that are bought domestically and they are produced in other countries.

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03:43

Students have asked these similar questions

Discuss the preferred deterrent method employed by the Zambian government to combat tax evasion, monetary fines. As noted in the reading the potential penalty for corporate tax evasion is a fine of 52.5% of the amount evaded plus interest assessed at 5% annually along with a possibility of jail time. In general, monetary fines as a deterrent are preferred to blacklisting of company directors, revoking business operation licenses, or calling for prison sentences. Do you agree with this preference? Should companies that are guilty of tax evasion face something more severe than a monetary fine? Something less severe? Should the fine and interest amount be set at a different rate? If so at why? Provide support and rationale for your responses.

answer

Discuss the preferred deterrent method employed by the Zambian government to combat tax evasion, monetary fines. As noted in the reading the potential penalty for corporate tax evasion is a fine of 52.5% of the amount evaded plus interest assessed at 5% annually along with a possibility of jail time. In general, monetary fines as a deterrent are preferred to blacklisting of company directors, revoking business operation licenses, or calling for prison sentences. Do you agree with this preference? Should companies that are guilty of tax evasion face something more severe than a monetary fine? Something less severe? Should the fine and interest amount be set at a different rate? If so at why? Provide support and rationale for your responses.

Answer 2

Question

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Export: Export refers to trading of goods and services from one country to another country.

Import: It refers to goods and services that are bought domestically and they are produced in other countries.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

03:43

Answer 3

Question

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Export: Export refers to trading of goods and services from one country to another country.

Import: It refers to goods and services that are bought domestically and they are produced in other countries.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

03:43

Answer 4

Question

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Export: Export refers to trading of goods and services from one country to another country.

Import: It refers to goods and services that are bought domestically and they are produced in other countries.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

03:43

Answer 5

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Export: Export refers to trading of goods and services from one country to another country.

Import: It refers to goods and services that are bought domestically and they are produced in other countries.

Answer 6

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Export: Export refers to trading of goods and services from one country to another country.

Import: It refers to goods and services that are bought domestically and they are produced in other countries.

Answer 7

Chapter 13, Problem 1CQQ

To determine

Whether the volume of export and import are increased or decreased after 1950.

Answer 8

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Option (a):

While comparing the US economy today to that of 1950, as a percentage of GDP, the volume of export and import seem to be increased. The economic situation is very different before and after 1950. Now, the volume of international trade is very higher and population of the economy has also increased. So, after 1950, both the export and import have become higher. Thus, option “a” is correct.

Option (b):

After 1950, as a percentage of GDP, the volume of international trade has increased. Both the volumes of export and import have become higher. Thus, option “b” is incorrect.

Option (c):

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” is incorrect.

Option (d):

Comparing the export after and before 1950, it shows an increment in its volume. After 1950, more trade favorable policies have come into force which helps to increase the volume of export in the economy. Thus, option “d” is incorrect.