a.
To explain: The original saying of what the man in cartoon is referring.
a.
Explanation of Solution
The man’s words in the play is a common saying. The original saying is “bull in a china shop”. This phrase refers to the situation where a person does not deal with the situation delicately and is quite rough in handling problems. This is due to the careless nature of the individual.
b.
To find: The representation made by the bull.
b.
Explanation of Solution
The bull in the figure represents the economy of the United States. The economists hence are saying that there is a China shop in our bull.
c.
To find: The representation made by the China shop.
c.
Explanation of Solution
The China shop represents the imports. Economists are saying that there is a china shop in our bull, by which they mean that there are products that are imported from China in the US economy.
d.
To explain: The message given by the cartoonist.
d.
Explanation of Solution
The cartoonists want to say that there is scope of imports made by China in the US economy. The economy of United States is not sufficient for all products and many goods are imported from China. Economists are trying to figure the imports that are made in the economy of the Unites States.
Chapter 18 Solutions
Economics Today and Tomorrow, Student Edition
Additional Business Textbook Solutions
Financial Accounting (12th Edition) (What's New in Accounting)
Principles of Accounting Volume 1
Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)
Principles of Accounting Volume 2
Cost Accounting (15th Edition)
Managerial Accounting (5th Edition)
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education