(a) Using the given data, calculate the merchandise trade balance . Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Question

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Answer 1

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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Answer

M” method Given the following model, solve by the method of “M”. (see image)

As indicated in the attached image, U.S. earnings for high- and low-skill workers as measured by educational attainment began diverging in the 1980s. The remaining questions in this problem set use the model for the labor market developed in class to walk through potential explanations for this trend. 1. Assume that there are just two types of workers, low- and high-skill. As a result, there are two labor markets: supply and demand for low-skill workers and supply and demand for high-skill workers. Using two carefully drawn labor-market figures, show that an increase in the demand for high skill workers can explain an increase in the relative wage of high-skill workers. 2. Using the same assumptions as in the previous question, use two carefully drawn labor-market figures to show that an increase in the supply of low-skill workers can explain an increase in the relative wage of high-skill workers.

Answer 2

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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Answer 3

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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

Answer 4

Question

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

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Answer 5

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

Answer 6

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

Answer 7

Chapter 20, Problem 1.1PA

To determine

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 8

Expert Solution

Explanation of Solution

Merchandise Trade Balance = Merchandise Export – Merchandise Import

= $350–$2425=−$2,075

Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a trade deficit.

Answer 9

Expert Solution

Answer 10

Expert Solution

Answer 11

Expert Solution

Answer 12

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

Answer 13

To determine

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 14

Expert Solution

Explanation of Solution

Balance on Goods and Services = Export of Goods and Services – Import of Goods and Services Export of Goods and services =$350+$2145=$2495

Import of Good and services = $2425 + $170=$2595

Balance on Goods and Services = $2495−$2595=−$100

Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.

Answer 15

Expert Solution

Answer 16

Expert Solution

Answer 17

Expert Solution

Answer 18

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

Answer 19

To determine

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 20

Expert Solution

Explanation of Solution

Balance on Current Account = Net Income Transferred – Inflow of Foreign Currency

= $221.5– $100.0=$121.5

Here, the balance on current account is $121.5 billion.

Answer 21

Expert Solution

Answer 22

Expert Solution

Answer 23

Expert Solution

Answer 24

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

Answer 25

To determine

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 26

Expert Solution

Explanation of Solution

Financial Account Balance = Capital Inflow – Capital Outflow = 100.0 – 245.0 = -$145.0

Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.

Answer 27

Expert Solution

Answer 28

Expert Solution

Answer 29

Expert Solution

Answer 30

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

Answer 31

To determine

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Answer 32

Expert Solution

Explanation of Solution

Statistical Discrepancy = Capital Outflow – Net Income Transferred = 245.0 – 221.5 = $23.5

Here, the statistical discrepancy is $23.5 billion.

Answer 33

Expert Solution

Answer 34

Expert Solution

Answer 35

Expert Solution

Answer 36

Ch. 20 - Prob. 1.1PA Ch. 20 - Prob. 1.2PA Ch. 20 - Prob. 2.3PA Ch. 20 - Prob. 3.4PA Ch. 20 - Prob. 4.5PA Ch. 20 - Prob. 4.6PA Ch. 20 - Prob. 4.7PA

(a) Using the given data, calculate the merchandise trade balance . Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Concept explainers

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

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Chapter 20 Solutions

(a) Using the given data, calculate the merchandise trade balance . Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Concept explainers

(a) Using the given data, calculate the merchandise trade balance. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(b) The balance on goods and services. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(c) Using the given data, calculate the balance on current account. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(d) Using the given data, calculate the financial account balance. Concept introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

(e) Using the given data, calculate the statistical discrepancy. Concept Introduction: The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

Explanation of Solution

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Chapter 20 Solutions

(a)

Using the given data, calculate the merchandise trade balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(b)

The balance on goods and services.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(c)

Using the given data, calculate the balance on current account.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(d)

Using the given data, calculate the financial account balance.

Concept introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.

(e)

Using the given data, calculate the statistical discrepancy.

Concept Introduction:

The periodical evaluation of trade balance i.e. the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.