Consider the following exports and imports for a country:Exports Imports Refined Petroleum$58.4BCars$144.0BCrude Petroleum$52.3BComputers$92.4BCars$47.6BPackaged Medicaments$84.1BIntegrated Circuits$544.2BBroadcast Equipment$82.0BPackaged Medicaments$34.7BCrude Petroleum$75.1B Calculate the overall amount of intra-industry trade in the appropriate goods as well as the intra-industry trade share for the entire country.

Trade refers to the exchange of goods, services, or resources between two or more parties, typically…

Answered: Consider the following exports and…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter28: International Trade

Section: Chapter Questions

Problem 11P

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Consider the following exports and imports for a country:

Exports		Imports
Refined Petroleum	$58.4B	Cars	$144.0B
Crude Petroleum	$52.3B	Computers	$92.4B
Cars	$47.6B	Packaged Medicaments	$84.1B
Integrated Circuits	$544.2B	Broadcast Equipment	$82.0B
Packaged Medicaments	$34.7B	Crude Petroleum	$75.1B

Calculate the overall amount of intra-industry trade in the appropriate goods as well as the intra-industry trade share for the entire country.

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