Principles of Macroeconomics 2e
2nd Edition
ISBN: 9781947172388
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 10, Problem 20SCQ
The United States exports
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Students have asked these similar questions
The United States exports14%ofGDP while Germany exports about 50% of it sGDP.Explain wha ttha tmeans.
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.
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…
Chapter 10 Solutions
Principles of Macroeconomics 2e
Ch. 10 - If foreign investors buy more U.S. stocks and...Ch. 10 - If the trade deficit of the United States...Ch. 10 - State whether each of the following events...Ch. 10 - In what way does comparing a countrys exports to...Ch. 10 - At one point Canadas GDP was 1,800 billion and its...Ch. 10 - The GDP for the United States is 18,036 billion...Ch. 10 - Why does the trade balance and the current account...Ch. 10 - State whether each of the following events...Ch. 10 - How does the bottom portion of Figure 23.3,...Ch. 10 - Explain the relationship between a current account...
Ch. 10 - Using the national savings and Investment...Ch. 10 - If a country is running a government budget...Ch. 10 - What determines the size of a countrys trade...Ch. 10 - If domestic Investment increases, and there is no...Ch. 10 - Why does a recession cause a trade deficit to...Ch. 10 - Both the United States and global economies are...Ch. 10 - For each of the following, indicate which type of...Ch. 10 - How did large trade deficits hurt the East Asian...Ch. 10 - Describe a scenario in which a trade surplus...Ch. 10 - The United States exports 14 of GDP while Germany...Ch. 10 - Explain briefly whether each of the following...Ch. 10 - If imports exceed exports, is it a trade deficit...Ch. 10 - What is included in the current account balance?Ch. 10 - In recent decades, has the U.S. trade balance...Ch. 10 - Does a trade surplus mean an overall inflow of...Ch. 10 - What are the two main sides of the national...Ch. 10 - What are the main components of the national...Ch. 10 - When is a trade deficit likely to work out well...Ch. 10 - Does a trade surplus help to guarantee strong...Ch. 10 - What three factors will determine whether a nation...Ch. 10 - What is the difference between trade deficits and...Ch. 10 - Occasionally, a government official will argue...Ch. 10 - A government official announces a new policy. The...Ch. 10 - If a country is a big exporter, is it more exposed...Ch. 10 - If countries reduced trade barriers, would the...Ch. 10 - Is it better for your country to be an...Ch. 10 - Many think that the size of a trade deficit is due...Ch. 10 - If you observed a country with a rapidly growing...Ch. 10 - Occasionally, a government official will argue...Ch. 10 - What is more important, a countrys current account...Ch. 10 - Will nations that are more involved in foreign...Ch. 10 - Some economists warn that the persistent trade...Ch. 10 - In 2001, the United Kingdoms economy exported...Ch. 10 - Imagine that the U.S. economy finds itself in the...Ch. 10 - Table 23.7 provides some hypothetical data on...Ch. 10 - Imagine that the economy of Germany finds itself...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Find out net export of an american economy if import is $45,0000 and export is $75,000?arrow_forwardDoes the US import more ($ value) than it exports or does the US export more than it imports? Is this a good thing, bad thing, or neither? Fully explain.arrow_forwardGiven 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 shoesarrow_forward
- 1.3 Using the gravity model calculate the value of trade between country I and J. You can assume: a=b=0.9, c=0.8 and A=0.5The GDP for country I is triple the GDP of country J. Country J GDP is equal to the product of the trading value of all developed countries listed in the given table. The distance between these countries is 28 km.arrow_forwardAt one point Canada’s GDP was $1,800 billion and its exports wer e $542 billion.What was Canada’sex portratio at this time?arrow_forwardIdentify whether the given items are examples of imports, exports, or neither. Assume the United States is considered the domestic country. Heath lives in the United States and purchases a video game produced in Japan. a. neither b. import c. export Veronica lives in Tennessee and buys an orange grown in Florida. a. export b. import c. neither A Chinese consumer purchases a television produced in China. a. import b. export c. neither A farmer in Iowa sells corn to a food processing plant in China. a. export b. import c. neither Chevron drills for oil in the United States and sells this oil to refineries in Brazil and Mexico. a. neither b. export c. importarrow_forward
- Find the balance of trade if exports of good is 270 and the imports of goods is 185.arrow_forward“When a company “”exports jobs”” overseas, the company is __________________.”arrow_forward‘ GDP of a country has an effect on trade’. Why ? Explain by giving examples. What are the other factors that effects the trade ?arrow_forward
- Why is GDP and GNP converted to US dollararrow_forwardIf you observed a country with a rapidly growing trade surplus over a period of a year or so, would you be more likely to believe that the countrys economy was in a period of recession or of rapid growth? Explain.arrow_forward9 How free trade zones or special economic zones affect exports.arrow_forward
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