MACROECONOMICS >C< W/MYECONLAB
18th Edition
ISBN: 9781323886038
Author: Pearson
Publisher: Pearson Custom Publishing
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Chapter 18, Problem 3.1P
To determine
Complexity of international trade.
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The following table presents the exports and imports of a country in three categories for the years 2005 and 2010.
Categorie Exports (millions $) Imports (millions in $)
2000 2010 2000 2010
Agriculture 51,296 70,912 39,186 65,459
Manufacture 625,894 785,599 1,012,855 1,416,302
Minery 13,479 34,711 135,367 332,500
Construct four matrices, one for each column of the table, whose dimension is 3 x 1. Use two of these matrices to determine matrix E, which will represent the trade balance for the year 2000 and matrix B, which will represent the trade balance for the year 2010. Apply the concepts of matrix algebra to determine the matrix E - F, which will compare both years. Apply the properties of the matrices to determine if the trade balance from…
Given 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 shoes
When exports and imports are exactly equal for a country, this is called... Net imports. Trade surplus. ⒸNet exports. Trade deficit. Balanced trade.
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- Suppose that Poland had exports of $100 billion in 2014 and imports of $150 billion. What were its net capital flows in that year? Give two examples of transactions that are part of the net capital flows of Poland, and indicate whether they enter the sum as positive numbers or negative numbers.arrow_forwardFruitland has a very simple economy: it produces just apples and oranges. It has no imports and exports.arrow_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
- 1 US $ = _______ Chinese Yuan 1 Chinese Yuan = _______ US $ 1 US $ = _______ EURO 1 EURO = _______ US $arrow_forwardWhich of the following would increase exports in the United States? The United States purchases 500 silver necklaces from Mexico. The government of Mexico purchases 500 Ford F-150 pickup trucks from the United States. A Mexican citizen purchases 25 shares of stock in Ford Motor Company. The U.S. government donates $5 million to Mexico to help victims of drought in Mexico.arrow_forwardComplete the table. Please note that the world price of T in terms of S is 1,5 and GDP calculated in terms of S.arrow_forward
- Why is GDP and GNP converted to US dollararrow_forward1. Imports, exports, and the trade balance The following table shows the approximate value of exports and imports for the United States from 1983 through 1987. Complete the table by calculating the surplus or deficit both in dollar terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth. Source: “Income, Expenditures, Poverty, & Wealth: Gross Domestic Product (GDP),” United States Census Bureau, United States Department of Commerce, last modified September 2011, accessed June 10, 2013, https://www.census.gov/library/publications/2011/compendia/statab/131ed/income-expenditures-poverty-wealth.html. Between 1984 and 1985, the ______ (surplus/deficit) _______(grew/shrank/remained the same) in dollar terms and ______ (grew/shrank/remained the same) as a percentage of GDP. Grade It Now Save & Continuearrow_forwardIberia's imports of goods and services are $ ____ billion Thanks!!arrow_forward
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