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

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 31, Problem 1CQQ

Sub part (a):

To determine

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

Sub part (a):

Expert Solution

Explanation of Solution

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.

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.

Sub part (b):

To determine

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

Sub part (b):

Expert Solution

Explanation of Solution

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.

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.

Sub part (c):

To determine

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

Sub part (c):

Expert Solution

Explanation of Solution

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

Sub part (d):

To determine

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

Sub part (d):

Expert Solution

Explanation of Solution

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!

Students have asked these similar questions

1. Suppose that the two nations face the following benefits of pollution, B, and costs of abatement, C: BN = 10, Bs = 7; CN = 5, Cs = 4. Further assume that if the nation chooses to abate pollution, it still receives the benefits of pollution but now must pay the cost of abatement as well. a. Identify the payoffs that accrue to each nation under the four different possible outcomes of the game and present these payoffs in the normal form of the game. b. Recall that the term dominant strategy defines the condition that a player in a game would prefer to play that strategy (in this case either pollute or abate) regardless of the strategy chosen by the other player in the game. Does either nation have a dominant strategy in this game? If so, what is it? c. Identify the Nash equilibria, or non-cooperative equilibria, of this game.

agrody calming Inted 001 and me 2. A homeowner is concerned about the various air pollutants (e.g., benzene and methane) released in her house when she cooks with natural gas. She is considering replacing her gas oven and stove with an electric stove comprising an induction cooktop and convection oven. The new appliance costs $900 to purchase and install. Capping the old gas line costs an additional $150 (a one-time fee). The old line must be inspected for leaks each year after capping, at a cost of $35 for each inspection. a. If the homeowner plans to remain in the house for four more years and the discount rate is 4%, what is the minimum present value of the benefits that the homeowner would need to experience for this purchase to be justified based on its private net sub present value? b. While trying to understand how she might express the value of reduced exposure to indoor air pollutants in dollar terms, the homeowner consulted the EPA website and found estimates provided by…

After the ban is imposed, Joe’s firm switches to the more expensive biodegradable disposable cups. This increases the cost associated with each cup of coffee it produces. Which cost curve(s) will be impacted by the use of the more expensive biodegradable disposable cups? Why? Which cost curve(s) will not shift, and why not? Please use the table below to answer this question. For the second column (“Impacted? If so, how?”), please use one of the following three choices: No shift; Shifts up (i.e., increases: at nearly any given quantity, the cost goes up); or Shifts down (i.e., decreases: at nearly any given quantity, the cost goes down). $ Cost Curve Impacted? If so, how? Explanation of the Shift: Why or Why Not AFC No shift. Fix costs stay the same, regardless of quantity. Fixed cost is calculated as Fixed Cost/Quantity. Since fixed costs remain unchanged, AFC stays the same for each quantity. MC Shifts up. Since the biodegradable cups are more expensive, the…

Answer 2

Question

Chapter 31, Problem 1CQQ

Sub part (a):

To determine

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

Sub part (a):

Expert Solution

Explanation of Solution

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.

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.

Sub part (b):

To determine

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

Sub part (b):

Expert Solution

Explanation of Solution

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.

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.

Sub part (c):

To determine

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

Sub part (c):

Expert Solution

Explanation of Solution

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

Sub part (d):

To determine

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

Sub part (d):

Expert Solution

Explanation of Solution

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!

Answer 3

Question

Chapter 31, Problem 1CQQ

Sub part (a):

To determine

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

Sub part (a):

Expert Solution

Explanation of Solution

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.

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.

Sub part (b):

To determine

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

Sub part (b):

Expert Solution

Explanation of Solution

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.

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.

Sub part (c):

To determine

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

Sub part (c):

Expert Solution

Explanation of Solution

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

Sub part (d):

To determine

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

Sub part (d):

Expert Solution

Explanation of Solution

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!

Answer 4

Question

Chapter 31, Problem 1CQQ

Sub part (a):

To determine

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

Sub part (a):

Expert Solution

Explanation of Solution

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.

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.

Sub part (b):

To determine

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

Sub part (b):

Expert Solution

Explanation of Solution

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.

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.

Sub part (c):

To determine

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

Sub part (c):

Expert Solution

Explanation of Solution

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

Sub part (d):

To determine

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

Sub part (d):

Expert Solution

Explanation of Solution

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!

Answer 5

Chapter 31, Problem 1CQQ

Sub part (a):

To determine

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

Sub part (a):

Expert Solution

Explanation of Solution

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.

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.

Sub part (b):

To determine

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

Sub part (b):

Expert Solution

Explanation of Solution

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.

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.

Sub part (c):

To determine

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

Sub part (c):

Expert Solution

Explanation of Solution

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

Sub part (d):

To determine

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

Sub part (d):

Expert Solution

Explanation of Solution

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 31, Problem 1CQQ

Sub part (a):

To determine

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

Sub part (a):

Expert Solution

Explanation of Solution

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.

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 31, Problem 1CQQ

Sub part (a):

To determine

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

Answer 8

Sub part (a):

Expert Solution

Explanation of Solution

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.

Answer 9

Sub part (a):

Expert Solution

Answer 10

Sub part (a):

Expert Solution

Answer 11

Expert Solution

Answer 12

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 13

Sub part (b):

To determine

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

Sub part (b):

Expert Solution

Explanation of Solution

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.

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 14

Sub part (b):

To determine

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

Answer 15

Sub part (b):

Expert Solution

Explanation of Solution

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.

Answer 16

Sub part (b):

Expert Solution

Answer 17

Sub part (b):

Expert Solution

Answer 18

Expert Solution

Answer 19

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 20

Sub part (c):

To determine

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

Sub part (c):

Expert Solution

Explanation of Solution

As per the percentage of GDP, the volume of import has increased after 1950. Thus, option “c” 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 21

Sub part (c):

To determine

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

Answer 22

Sub part (c):

Expert Solution

Explanation of Solution

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

Answer 23

Sub part (c):

Expert Solution

Answer 24

Sub part (c):

Expert Solution

Answer 25

Expert Solution

Answer 26

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 27

Sub part (d):

To determine

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

Sub part (d):

Expert Solution

Explanation of Solution

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 28

Sub part (d):

To determine

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

Answer 29

Sub part (d):

Expert Solution

Explanation of Solution

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.