The table shows the value of exports and imports for the small country of Cherubland. Their chief export is tiny cupid arrows.Use the table to answer the questions.Exports8750Imports400113Income payments3513Unilateral transfers077What is the value of the merchandise trade balance for Cherubland?GoodsServicesWhat is the value of the current account balance for Cherubland?

Exports and imports refer to the trade of goods and services between countries. Exporting is the act…

The table shows the value of exports and imports for the small country of Cherubland. Their chief export is tiny cupid arrows. Use the table to answer the questions. Exports Imports 87 400 50 113 Income payments 35 13 Unilateral transfers 0 77 What is the value of the merchandise trade balance for Cherubland? Goods Services

The table shows the value of exports and imports for the small country of Cherubland. Their chief export is tiny cupid arrows. Use the table to answer the questions. Exports Imports 87 400 50 113 Income payments 35 13 Unilateral transfers 0 77 What is the value of the merchandise trade balance for Cherubland? Goods Services

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter23: The International Trade And Capital Flows

Section: Chapter Questions

Problem 6SCQ: The GDP for the United States is 18,036 billion and its current account balance is 484 billion. What...

See similar textbooks

Similar questions

If a country is importing more than it is exporting it will have a balance of trade trade surplus trade deficit balance of payments
Display graphically changes in the value of domestic currency, if a foreign government imposes tariffs on some kind of domestic goodsv
The GDP for the United States is 18,036 billion and its current account balance is 484 billion. What percent of GDP is the current account balance?
If the exports in a economy are $280139 and the imports are $127448 find the trade balance
Why do you think balance of payments serves as a tool for exportation and importation?
If the balance of trade is 2050 billion and the value of exports are 3000 billion find the value of imports!
Suppose there is a rise in foreign output, Y*. This rise in Y* will cause which of the following to occur?The domestic country’s output decreases.The domestic country’s consumption increases.The domestic country’s trade balance worsens.all of the abovenone of the above
A country that is spending more than it makes a- unstable b- trade balance c- trade deficit c- trade surplus
Which measure of trade involves a comparison of exports, imports, international income flows, and international transfers? merchandise trade balance current account balance import trade balance export trade balance
County A will export ["bikes", "cars", "nothing"] and import ["bikes", "cars", "nothing"] because ["Country A has a gomparative advantage in cars", "Country A has a comparative advantage in bikes", "Country B has an absolute advantage in both goods"] . County B will export ["bikes", "cars", "nothing"] and import ["bikes", "cars", "nothing"] because ["Country A has a gomparative advantage in cars", "Country A has a comparative advantage in bikes", "Country B has an absolute advantage in both goods so Country A has nothing to trade with Country B"] .
WHAT IS INFANT-INDUSTRY PROTECTION? WHAT ARE POLICY CREDITS AND ADMINISTRATIVE GUIDANCE IN ASIA? WHAT IS ASIAN DOLLAR MARKET?
The following table presents international flow values information for a country, expressed in generic units. Exports of goods: 4,000 Exports of services: 2,500 Investment income receipts: 1,600 Secondary income receipts: 400 Imports of goods: 1,200 Imports of services: 5,000 Investment income payments: 2,300 Secondary income payments: 100 Calculate the country's trade balance. Type your answer...