Further information on the activities of the Juice industry in 2023 is providedin table 2.1 below in millions of Eastern Caribbean dollars (ECD).Table 2.1ECD millionSubsidies 0Gross national product at market prices 300Imports 30Net national product 275Exports 30Net national product at factor cost 260Personal savings 15Personal income 225Government transfer payments 5Undistributed corporate profits 20Government expenditure on commodities 40Personal consumption 160Using the following Global-Land 2022 data in table 2.1 provide Estimates of the Following KeyNational Accounting Aggregates: (30 marks)(1 mark each for the formula, 4 marks each for the working and the solution

Further information on the activities of the Juice industry in 2023 is providedin table 2.1 below in millions of Eastern Caribbean dollars (ECD).Table 2.1ECD millionSubsidies 0Gross national product at market prices 300Imports 30Net national product 275Exports 30Net national product at factor cost 260Personal savings 15Personal income 225Government transfer payments 5Undistributed corporate profits 20Government expenditure on commodities 40Personal consumption 160Using the following Global-Land 2022 data in table 2.1 provide Estimates of the Following KeyNational Accounting Aggregates: (30 marks)(1 mark each for the formula, 4 marks each for the working and the solution

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 6SCQ: Table 33.15 shows how the average costs of production for semiconductors (the chips In computer...

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Further information on the activities of the Juice industry in 2023 is providedin table 2.1 below in millions of Eastern Caribbean dollars (ECD).Table 2.1ECD millionSubsidies 0Gross national product at market prices 300Imports 30Net national product 275Exports 30Net national product at factor cost 260Personal savings 15Personal income 225Government transfer payments 5Undistributed corporate profits 20Government expenditure on commodities 40Personal consumption 160Using the following Global-Land 2022 data in table 2.1 provide Estimates of the Following KeyNational Accounting Aggregates: (30 marks)(1 mark each for the formula, 4 marks each for the working and the solution)i. Personal disposable incomeii. Indirect taxesiii. Net investmentiv. Depreciation
wine 90 80 70 60 50 40 30 20 10 PPF ܝܝܝܕܘ Portugal CPF 0 10 20 30 40 50 60 cloth wine Ob) Production of cloth in England will fall to zero, while the price of wine will increase to %ydbo O (c) Production of wine in Portugal will increase to 90 while the price of cloth will tail to 2 yabole O() Production of wine in England will increase to 60, while the price of cloth will tall to 3 bottleslyd 88284821 90 80 70 60 50 40 30 20 10 England PPF 0 0 10 20 30 40 50 60 cloth 13. According to the above sel of production possibiles and consumption (trade) possibites onders, what will happen to production and relative prices once trade is opened between these two countes? O(x) Production of cloth in Portugal will fall to zero, while the price of wine will fall to % ydb CPF
Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
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Table 1 indicates the flows of each product from one region to another. These flows were determined purely from a production and transportation costs perspective. Discuss how the different customs and trade related factors might influence these flows and related location decisions. Assume that all regions can produce all products
Ind.1 100 600 300 Ind 2 400 200 700 Ind.3 50 350 50 Ind 4 250 150 25 Suppose we are given the following Intermediate Inputs matrix with industries 1-2 located in country A and 3-4 located in B Country A's total intermediate production exports to B are Select one a1300 b.1000 c.1200 d 800 e.75 Which of the following best reflects the trend in GVCS ? Select one a The increased trade in intermediates within GVCS has helped growth in trade to outpace growth in gross dornestic product (GDP) bVs and GDP arguments CNone is correct d Countries now participate in a process of vertical specialisation (VS) a vertical division of labour in which countries specialise in specific stages and tasks of the value chain e The rising transportation costs are a threat to GVC.
Which country will be exporting and importing which product? A) England will be exporting both wine and cloth B) Portugal will be importing wine and importing cloth C) Portugal will be exporting cloth and importing wine D) England will be exporting wine and importing cloth E) None of the above
The table below shows the monetary value of the production of gems and steel respectively in the calendar year of 2019 for the nations of Turkey and Zimbabwe. Use it to answer questions regarding a possible trade scenario between the two nations. Year - 2019 Gems in billions of USD Steel in billions of USD Zimbabwe 1 0.2 Turkey 10 What is the opportunity cost of producing 1 billion dollars worth of steel in Zimbabwe? a 5 billion dollars worth of gems O b 1 billion dollars worth of gems O c 7 billion dollars worth of gems O d 10 billion dollars worth of gems 7.
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17 of 38 The following production possibilities schedule shows the quantities of soybeans and oil that can be produced in Canada and Mexico with one unit of equivalent resources. Soybeans (bushels) Oil (barrels) Canada 51 12 Mexico 25 7. Mexico would not gain by producing and exporting oil and importing soybeans unless it received O A. more than 12 barrels of oil. O B. 1.71 bushels of soybeans per barrel of oil. O C. more than 4.25 bushels of soybeans per barrel of oil. O D. more than 3.57 bushels of soybeans per barrel of oil. Unsure
1. Notice how U.S. imports rose at roughly the same rate asthose of other countries until the 1970s. What accounts forthe acceleration of U.S. imports thereafter? 2. China’s exports rose spectacularly after the 1990s. Germanyincreased its exports in this period dramatically as well. Whatevidence do you see here for increasing competition for theUnited States in a globalizing economy?
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