The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

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Answer 1

Question

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

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Answer 2

Question

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

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Answer 3

Question

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

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!

Answer 4

Question

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

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!

Answer 5

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

Answer 6

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

Answer 7

Chapter 30, Problem 1DQ

To determine

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Answer 8

Expert Solution & Answer

Explanation of Solution

The quality of American cars has improved as compared to the cars of other countries, so the American import of Japanese cars would reduce because the quality of American car is better than that of the Japanese cars. Thus, import of Japanese automobiles would fall.

As the quality of American cars has improved, the demand for American cars would increase, in both domestic as well as foreign market.

As a result, there will be an increase in American cars exports and with this there will be an increase in Japanese import of automobiles as well.

There would be no change in the American export of goods and services other than automobiles because only the quality of automobile has increased. There would be no change in the quality of other goods.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Concept introduction:

Export:

Export refers to an economic activity in which goods and services produced within the country are sold to foreign countries at the foreign exchange rate.

Import:

Import refers to an economic activity in which goods and services are purchased by a country from a foreign country at the foreign exchange rate.

Answer 12

Ch. 30 - Prob. 1DQ Ch. 30 - Prob. 2DQ Ch. 30 - Prob. 3DQ Ch. 30 - Prob. 4DQ Ch. 30 - Prob. 5DQ Ch. 30 - Prob. 6DQ

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

The effect on American import of Japanese cars, Japanese import of American cars, and American export of goods and services.

Explanation of Solution

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