What is the predicted relationship between the value of a country’s imports and its national income? What is the predicted relationship between its trade balance and its national income? Plz do fast .
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- What is the relative importance of Net Export (NX) (Net Export = spending on exports (X) - imports (M)) in aggreagte demand and some factors that affect it?If national income (output) is $8.5 Trillion, Consumption is $6 Trillion, Exports are $1 Trillion, Investment is $2 Trillion, Government Expenditures are $2 Trillion, what is the value of Imports?Wheneve ther is a recession imports decrease. Therefore to stop a recession we should increase import?
- Suppose we have an economy where C = $30 Billion, I = $50 Billion, G = $20 Billion, Imports = $2 Billion, and Exports = $5 Billion. What is the trade balance this economy? a. What is the trade balance for this economy? NX = $ Billion b. What is the GDP for this economy? GDP = $ BillionThe national income (Y) of a country has the form: Y = 0.48K0.4L0.3NX0.01 Where: K is capital, L is labor and NX is net exports. a) How will a 1% increase in labor affect income? Is there an opinion that reducing the labor rate by 2% can increase net exports by 15% while keeping income unchanged, is this true or false? b) Let NX's growth rate be 4%, K is 3%, L is 5%. Determine the growth rate of Y.What is export,import rate and net export reflecting in terms of GDP of a country? What it indicates when the value is high or low?
- People sometimes argue that imports should be limited by government policy. Suppose a government quota on the quantity of imports causes net exports to rise. Using the circular flow diagram as a guide, explain why total expenditures and national output may rise after the quota in imposed. Who is likely to benefit from the quota? Who will be hurt?How would the following transactions affectU.S. exports, imports, and net exports?a. An American art professor spends the summertouring museums in Europe.b. Students in Paris flock to see the latest movie fromHollywood.c. Your uncle buys a new Volvo.d. The student bookstore at Oxford University inEngland sells a copy of this textbook.e. A Canadian citizen shops at a store in northernVermont to avoid Canadian sales taxesIs 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.
- A) Does this economy have a trade deficit or a trade surplus? B) What is the GDP for this economy? C) What method are we using here to compute GDP? (Income, production or expenditure)If countries that imported goods and services from the United States went into recession, we would expect that U.S. net exports would a rise, making aggregate demand shift left. b rise, making aggregate demand shift right. c fall, making aggregate demand shift left. d fall, making aggregate demand shift right.Consider the information about the economy of Pakistan. Note that the crrency of Pakistan is the rupee. The government prchases: 2.90 trillions of rupees. Individulas consumer: 9.40 trillions of rupees. Individuals save: 4.97 trillions of rupees. Businesses invest: 1.75 trillions of rupees. Foreigners spend: 0.54 trillions of Rupees to purchase Pakisani firms. Pakistan imports: 2.56 trillions of rupees. Pakistan exports: 1.35 trillions of rupees. Calculate Pakistan's GDP Assume that the value are all current and no conversions need to be made.
