Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 33, Problem 3.1P
To determine
Complexity of international trade.
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Calculate trade-to-GDP for both case and
define what does the trade-to-GDP ratio
measure. Compare the results for two
countries and discuss if a low value indicate
that a country is closed to trade with the
outside world.
Import (current
USD, bln)
380.1
Export (current
USD, bln
466.3
917.9
GDP (current USD,
bln)
705.1
4,954.8
Switzerland
Japan
906.3
Calculate net exports of Brazil if the export were $780 million and imports were $600 million
Exports of a country are $200 million and imports in the same year is $116 million
Calculate net exports
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Principles of Economics (12th Edition)
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- The table below shows the export and import values of automobiles, pharmaceuticals, and clothing in Country A and Country B. Country A Automobiles Exports ($Billions) Imports ($Billions) 20 40 Pharmaceuticals 30 30 40 Clothing Country B Exports ($Billions) Imports ($Billions) Automobiles 0 Pharmaceuticals 40 Clothing 45 The IIT share is zero for in Country A and for O pharmaceuticals; pharmaceuticals O clothing; pharmaceuticals O automobiles: pharmaceuticals Oclothing; automobiles 0 20 40 35 in Country B.arrow_forwardWhen products cannot be produced domestically, they are often produced internationally and shipped to various countries. The products sold in the U.S. that are made in other countries are called _____. domestic gross exports importsarrow_forwardGiven the above graph, what are the imports and exports for this country? a- It imports 25 computers and exports 275 shoes b- It exports 25 computers and imports 275 shoes c- It imports 125 computes and exports 350 shoes d- It exports 125 computes and imports 350 shoesarrow_forward
- The exports of Uruguay, a developing country, are made essentially of primary commodities. A comparison between export prices received by Uruguay and the price paid for its imports shows the following: on average export prices rose 40% between 2000 and 2010, while import prices went up by 150%. Index quantities exported by the country were Qx = 15 (in 2000), and Qx = 30 (in 2010). Uruguay’s income terms of trade (ITT) in 2000, was: Group of answer choices 100. 1,680. 2,000. 250. 1,500.arrow_forwardImport of an firm is $4300 and net export is $8400 what would be the export of a firm?arrow_forwardExports and imports are $500 million and $330 million Find net Exportsarrow_forward
- Goods imports 635 Goods exports 419 Services imports 144 Services exports 215 Net unilateral transfers -35 Investment income received 278 Investment income paid 225 Capital account -3 Net US acquisition of financial assets 84 Net US incurrence of of liabilities 158 Net change in financial derivatives -21 Statistical discrepancy Based on Table 9.2, this country has a statistical discrepancy of Group of answer choices -35 -32 0 32 35arrow_forward(Table: U.S. International Trade in Goods and Services, 2021, in millions of dollars. Details may not equal totals, due to seasonal adjustment and rounding.) The table contains data on U.S. trade in 2021.In 2021, the United States imported million worth of goods. Exports Goods Services Total Total 2021 -861,383 -1,091,384 230,001 2,532,955 1,761,709 771,247 a. Period $2,532,955 b. $758,888 C. -$861,383 Balance Goods d. $2,853,093 Imports Goods Services 3,394,339 2,853,093 541,245 Services Totalarrow_forwardWhat are the principal imports, principal exports, gross national product, chief of state, major cities and population, principal agricultural crop, and major companies in the country of Brazil,10 years prior to the current available data? Which US company do you recommend to enter Brazil's market and why?arrow_forward
- The following table gives categories for income and expenditures for a representative country: Net exports of goods and services Net interest paid by business Government purchases of goods and services Gross private domestic investment Taxes unrelated to incomes net of subsidies - 600 480 1,800 2,400 480 Rental income of individuals plus implicit rent on owner-occupied housing Wages, salaries, employee compensation Personal consumption expenses Depreciation Proprietorial income Corporate profits 240 7,200 8,400 960 1,200 1,440 Use the data in the table to calculate Gross Domestic Income (GDI) for this country. GDI is equal to $arrow_forwardCalculate exports of firm A if its value added is $5000 million, domestic sales is $3200 and purchase made by firm A is $1000arrow_forwardThe table below shows nominal GDP, exports, and imports for the United States. Nominal GDP, Exports, and Imports Year 2015 2016 Nominal GDP Exports Imports (billions of (billions of (billions of dollars) $2,308.0 2,334.1 LA dollars) $16,981.9 17,601.1 Instructions: Round your answers to one decimal place. If you are entering a negative number include a minus sign. a. Calculate the value of net exports in 2015. billion b. Calculate the value of net exports in 2016. billion dollars) $2,759.7 2,878.3arrow_forward
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