PRINCIPLES OF MICROECONOMICS LOOSE LEAF
12th Edition
ISBN: 9780134081083
Author: CASE
Publisher: PEARSON
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Chapter 20, Problem 3.1P
To determine
Identify the role of the
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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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PRINCIPLES OF MICROECONOMICS LOOSE LEAF
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- Compute the ratio of exports to imports for 2020 for each category.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_forwardWhat correlation exists between exports and GDP per capita, and imports and GDP per capita?arrow_forward
- Which 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_forwardSuppose 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_forwardFind the balance of trade if exports of good is 270 and the imports of goods is 185.arrow_forward
- Complete 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_forwardNet-exportsarrow_forwardThe Bahamas paid a "very high price" for not using non-tariff barriers to prevent foreign producers from dumping low-quality food products into the country, a practice that has driven Bahamian farmers out. According to the article, the Bahamas' food security shortfalls and inability to feed itself have made food nearly affordable for many segments of society, implying that poor policy decisions of previous administrations contributed to the demise of agriculture. The industry's contribution to Bahamian GDP has fallen to less than 1%, compared to its contribution of 5-6 percent to Bahamian GDP in the 1970s and 1980s. 1. Identify the type of market failure being discussed in the article and discuss why market failure occurs in this scenario 2. Suggest a relevant government policy that would yield the efficient outcome andcarefully explain the process through which the implementation of thegovernment policy will lead to the optimal outcome. 3. How will the imposition of the chosen…arrow_forward
- 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.arrow_forwardWhat would be the Export of goods if imports of goods are $90 and balance of trade is $70?arrow_forwardIf a country's GDP is $10 trillion, its exports are $1 trillion, and its imports are $1.5 trillion, then its trade/GDP ratio is:arrow_forward
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