Complete the table. Please note that the world price of T in terms of S is 0.5 and GDP calculated in terms of S. Production of T Consumption of T Export of T Production of S Consumption of S Import of S TOT GDP Before Trade 1440 600 720 0,5 After Trade 1800 618 0,5 Percentage Change
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What happened to K/L ratio in this country and what are the effects of the new K/L ratio on its production pattern and trade volume. Explain
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- What do international flows of capital have to do with trade imbalances?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.Occasionally, a government official will argue that a country should strive for both a trade surplus and a healthy inflow of capital from abroad. Is this possible?
- The United States exports14%ofGDP while Germany exports about 50% of it sGDP.Explain wha ttha tmeans.QUESTION 20Suppose there is a rise in foreign output, Y*. This rise in Y* will cause which of the following to occur? The domestic country’s output decreases. The domestic country’s consumption increases. The domestic country’s trade balance worsens. all of the above none of the aboveSuppose there is a rise in foreign output, Y*. This rise in Y* will cause which of the following to occur?The domestic country’s output decreases.The domestic country’s consumption increases.The domestic country’s trade balance worsens.all of the abovenone of the above
- A French worker has 100 shirts or 20 in a yeara computer can produce, while a British worker can produce 100 shirtsor let's say it can produce 10 computers.- In this direction, as in question l, both the French andProduction possibilities for the British in Tabular Formyour show.- France and England each have 100 workerslet's assume. Each country, half of its employees in each sectorif it does, how many shirts and computers does each country produce?What is the total output of the shirt and computer in the worldmuch?- Now compare all employees of each countrythat he specialises in the industry in which he has the upper handlet's assume. In this case, shirts and computershow much is the total output in the world?a) Compute the ratio of exports to imports for the total and for eachcategory of goods listed in the table. Add the ratios to the table (you can edit thetable by clicking on it. If by any chance this does not work for you, make yourown table and insert it here)1. Notice how U.S. imports rose at roughly the same rate asthose of other countries until the 1970s. What accounts forthe acceleration of U.S. imports thereafter? 2. China’s exports rose spectacularly after the 1990s. Germanyincreased its exports in this period dramatically as well. Whatevidence do you see here for increasing competition for theUnited States in a globalizing economy?
- By using the concept of the Standard Trade Model, and the assumptions of the H-O model. a) Explain with a graph why with the increase in the relative price of Cloth PC/PFthen should domestic export Cloth?b) If a country exports Cloth and imports Food, then there isbiased growth on cloth, how will it affect the terms of trade?Explain.c) With the same assumptions in number b), what is the impact of export-biased growth and import biased growth of domestic countries on welfaredomestic? ExplainSuppose there is a reduction in foreign output, Y*. This reduction in Y* will cause which of the following in the domestic country?a reduction in outputa reduction in consumptiona reduction in net exportsall of the abovenone of the aboveA popular measure of a country’s “openness” to international trade is an index computed as the sum of the country’s exports and imports divided by its GDP. Calculate and graph the openness index for the United States using quarterly data since 1947. What has been the postwar trend? Can you think of any factors that might help explain this trend? (Hint: Be careful with the data, as some databases record imports with a negative sign and then add them to exports to get net exports. If that is the case with your data, take the absolute value of imports before adding it to exports, because we are interested in the total volume of trade, not the balance of trade.)