Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 31, Problem 1QCMC
Sub part (a):
To determine
Whether the volume of export and import are increased or decreased after 1950.
Sub part (b):
To determine
Whether the volume of export and import are increased or decreased after 1950.
Sub part (c):
To determine
Whether the volume of export and import are increased or decreased after 1950.
Sub part (d):
To determine
Whether the volume of export and import are increased or decreased after 1950.
Expert Solution & Answer
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Check out a sample textbook solutionStudents have asked these similar questions
A positive balance of trade is when:
A.
imports are greater than exports
B.
exports are greater than imports
C.
exports equal imports
D.
All of the Above
a. Briefly discuss the determinants of imports
b. Briefly discuss the determinants of exports
c. Explain how a recession in the United States can affect the economies of other nations, including Namibia.
If imports exceed exports, is it a trade deficit or a trade surplus? What about if exports exceed imports?
Chapter 31 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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Similar questions
- Identify whether the given items are examples of imports, exports, or neither. Assume the United States is considered the domestic country. Heath lives in the United States and purchases a video game produced in Japan. a. neither b. import c. export Veronica lives in Tennessee and buys an orange grown in Florida. a. export b. import c. neither A Chinese consumer purchases a television produced in China. a. import b. export c. neither A farmer in Iowa sells corn to a food processing plant in China. a. export b. import c. neither Chevron drills for oil in the United States and sells this oil to refineries in Brazil and Mexico. a. neither b. export c. importarrow_forwardFind out net export of an american economy if import is $45,0000 and export is $75,000?arrow_forwardWhich of the following would increase exports in the United States? The United States purchases 500 silver necklaces from Mexico. The government of Mexico purchases 500 Ford F-150 pickup trucks from the United States. A Mexican citizen purchases 25 shares of stock in Ford Motor Company. The U.S. government donates $5 million to Mexico to help victims of drought in Mexico.arrow_forward
- What is the term for the difference between the value of a country's exports and the value of its imports? A. Trade deficit B. Trade balance C. Trade surplus D. Net exportsarrow_forwardBoth the United States and global economies are booming. Will U.S. imports and/or exports increase?arrow_forwardWho loses when a country imports cheaper goods from abroad?arrow_forward
- If a country has a trade deficit, what will occur?Choose one answer.a. Imports will exceed exports. b. Exports will exceed imports. c. Imports and exports will be equal. d. Currency will be devalued.arrow_forwardWhat correlation exists between exports and GDP per capita, and imports and GDP per capita?arrow_forwardHow does the production of cash crops affect the people of the exporting country and the importing country?arrow_forward
- If you observed a country with a rapidly growing trade surplus over a period of a year or so, would you be more likely to believe that the countrys economy was in a period of recession or of rapid growth? Explain.arrow_forwardWhat three factors will determine whether a nation has a higher or lower share of trade relative to its GDP?arrow_forwardSo I don't need to fill out anything for net exports?arrow_forward
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