Macroeconomics (9th Edition)
9th Edition
ISBN: 9780134167398
Author: Andrew B. Abel, Ben Bernanke, Dean Croushore
Publisher: PEARSON
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Question
Chapter 1, Problem 2NP
(a)
To determine
To calculate the following ratios for the past three years:
- Export to
GDP - Import to GDP
- Trade imbalance to GDP
To analyze the trend of the calculated ratios.
(b)
To determine
To calculate the following ratios for the past three years:
- Federal government receipts to GDP
- Federal government expenditure to GDP
- Budget deficit to GDP
To analyze the trend of the calculated ratios.
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Students have asked these similar questions
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 absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.
Year
GDP
Exports
Imports
Exports – Imports
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)
(Percentage of GDP)
1983
3,535.0
277.0
328.6
1984
3,931.0
302.4
405.1
1985
4,218.0
302.0
417.2
1986
4,460.0
320.3
452.9
1987
4,736.0
363.8
508.7
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 1983 and…
Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers
to the nearest hundredth.
GDP
Exports
Imports
Exports - Imports
Year
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)
(Percentage of GDP)
1983
3,535.0
277.0
328.6
-51.6
-1.46
1984
3,931.0
302.4
405.1
-102.7
-2.61
1985
4,218.0
302.0
417.2
-115.2
-2.73
1986
4,460.0
320.3
452.9
-132.6
-2.97
1987
4,736.0
363.8
508.7
-144.9
-3.06
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
in dollar terms and
as a percentage of GDP.
The following table shows the approximate value of exports and imports for the United States from 2006 through 2010.
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.
Year
GDP
Exports
Imports
Exports – Imports
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)
(Percentage of GDP)
2006
13,399.0
1,471.0
2,240.3
2007
14,062.0
1,661.7
2,375.7
2008
14,369.0
1,843.4
2,553.8
2009
14,119.0
1,578.4
1,964.7
2010
14,660.0
1,837.5
2,353.9
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.…
Chapter 1 Solutions
Macroeconomics (9th Edition)
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