Principles of Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (12th Edition)
12th Edition
ISBN: 9780134421315
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 20, Problem 3.1P
To determine
Identify the role of the
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Calculate trade-to-GDP for both case and
define what does the trade-to-GDP ratio
measure. Compare the results for two
countries and discuss if a low value indicate
that a country is closed to trade with the
outside world.
Import (current
USD, bln)
380.1
Export (current
USD, bln
466.3
917.9
GDP (current USD,
bln)
705.1
4,954.8
Switzerland
Japan
906.3
The table below shows the export and import values of automobiles, pharmaceuticals,
and clothing in Country A and Country B.
Country A
Automobiles
Exports ($Billions) Imports ($Billions)
20
40
Pharmaceuticals 30
30
40
Clothing
Country B Exports ($Billions) Imports ($Billions)
Automobiles
0
Pharmaceuticals 40
Clothing
45
The IIT share is zero for in Country A and for
O pharmaceuticals; pharmaceuticals
O clothing; pharmaceuticals
O automobiles: pharmaceuticals
Oclothing; automobiles
0
20
40
35
in Country B.
Given the above graph, what are the imports and exports for this country?
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a- It imports 25 computers and exports 275 shoes
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Â
b- It exports 25 computers and imports 275 shoes
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c- It imports 125 computes and exports 350 shoes
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d- It exports 125 computes and imports 350 shoes
Chapter 20 Solutions
Principles of Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (12th Edition)
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- Net-exportsarrow_forward(Table: U.S. International Trade in Goods and Services, 2021, in millions of dollars. Details may not equal totals, due to seasonal adjustment and rounding.) The table contains data on U.S. trade in 2021.In 2021, the United States imported million worth of goods. Exports Goods Services Total Total 2021 -861,383 -1,091,384 230,001 2,532,955 1,761,709 771,247 a. Period $2,532,955 b. $758,888 C. -$861,383 Balance Goods d. $2,853,093 Imports Goods Services 3,394,339 2,853,093 541,245 Services Totalarrow_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? Â Which US company do you recommend to enter Brazil's market and why?arrow_forward
- Import of an firm is $4300 and net export is $8400 what would be the export of a firm?arrow_forwardCalculate net exports of Brazil if the export were $780 million and imports were $600 millionarrow_forwardTable 1. Export, Import and GDP in selected countries in 2018 Import (current USD, bln) 380.1 906.3 Export (current USD, bln 466.3 GDP (current USD, bln) 705.1 Switzerland Japan Data source: https://wits.worldbank.org/CountryProfile/en/Country/CHE/Year/LTST/ 917.9 4,954.8 Calculate trade-to-GDP for both case and define what does the trade-to-GDP ratio measure. Compare the results for two countries and discuss if a low value indicate that a country is closed to trade with the outside world.arrow_forward
- Compute the ratio of exports to imports for 2020 for each category.arrow_forwardWhen products cannot be produced domestically, they are often produced internationally and shipped to various countries. The products sold in the U.S. that are made in other countries are called _____.     domestic     gross     exports     importsarrow_forwardExports of a country are $200 million and imports in the same year is $116 million Calculate net exportsarrow_forward
- 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_forwardWhen exports and imports are exactly equal for a country, this is called... Net imports. Trade surplus. â’¸Net exports. Trade deficit. Balanced trade.arrow_forwardThe table below shows nominal GDP, exports, and imports for the United States. Nominal GDP, Exports, and Imports Year 2015 2016 Nominal GDP Exports Imports (billions of (billions of (billions of dollars) $2,308.0 2,334.1 LA dollars) $16,981.9 17,601.1 Instructions: Round your answers to one decimal place. If you are entering a negative number include a minus sign. a. Calculate the value of net exports in 2015. billion b. Calculate the value of net exports in 2016. billion dollars) $2,759.7 2,878.3arrow_forward
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