Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 7, Problem 1WNG
To determine
Estimate the import value.
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Is it reasonable or does it make sense, that while US exports are added to GDP, US imports are subtracted from GDP?
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Chapter 7 Solutions
Economics (MindTap Course List)
Ch. 7.1 - Prob. 1STCh. 7.1 - Prob. 2STCh. 7.2 - Prob. 1STCh. 7.2 - Prob. 2STCh. 7.2 - Prob. 3STCh. 7.4 - Prob. 1STCh. 7.4 - Prob. 2STCh. 7.4 - Prob. 3STCh. 7 - Prob. 1QPCh. 7 - Prob. 2QP
Ch. 7 - Prob. 3QPCh. 7 - Prob. 4QPCh. 7 - Prob. 5QPCh. 7 - Prob. 6QPCh. 7 - Prob. 7QPCh. 7 - Prob. 8QPCh. 7 - Prob. 9QPCh. 7 - Prob. 10QPCh. 7 - Prob. 11QPCh. 7 - Prob. 12QPCh. 7 - Prob. 13QPCh. 7 - Prob. 14QPCh. 7 - Prob. 1WNGCh. 7 - Prob. 2WNGCh. 7 - Prob. 3WNGCh. 7 - Prob. 4WNGCh. 7 - Prob. 5WNGCh. 7 - Prob. 6WNGCh. 7 - Prob. 7WNGCh. 7 - Prob. 8WNGCh. 7 - Prob. 9WNGCh. 7 - Prob. 10WNGCh. 7 - Prob. 11WNG
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- Why do we subtract import spending from total expenditures while calculating the GDP?arrow_forwardIs it true that the value of U.S. imports is added to exports when calculating U.S. GDP because imports reflect spending by Americans? Explain.arrow_forwardIf exports drop by $10 billion and imports rise by $7 billion, then what's the net export change? (Enter as If the answer is negative, then as the minus .arrow_forward
- Calculate net exports of Brazil if the export were $780 million and imports were $600 millionarrow_forwardJacques, a resident of France, goes to Germany to buy a brand-new car for €15,600.00. He then brings the car back to France and sells it to another resident for €17,500.00. Which amount will be included in which country’s GDP, deducted from the net export component of GDP?arrow_forwardWhat happens to the level of net exports in an economy when income in that economy increases? What happens to the level of net exports in an economy when income in other economies increases?arrow_forward
- Calculate exports of firm A if its value added is $5000 million, domestic sales is $3200 and purchase made by firm A is $1000arrow_forwardImport of an firm is $4300 and net export is $8400 what would be the export of a firm?arrow_forwardWhen Americans buy goods produced in Canada, Canadians earn income from American expenditures. Does the value of this Canadian output and American expenditure get counted under the GDP of Canada or the United States? Why?arrow_forward
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