Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Question
Chapter 36, Problem 1DQ
To determine
Effect of rapid growth of Japan in U.S economy.
Expert Solution & Answer
Explanation of Solution
The American exports increases rapidly due to the speedy growth in the Japanese economy, and this would have a multiplied expansionary effect upon GDP. The boost in exports would entail an increase in the demand for the US dollar, and as a result of an increase in the dollar value, this application would reduce somewhat (but not completely) the increase in exports. On the other hand, it would boost
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What are the necessary ingredients for a nation to experience greater rates of economic growth, higher average standards of living, and a greater ability to compete in the global economy? That is, what could the U.S. do to achieve all this?
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India has a huge economy that produces lots of goods and services (7th-highest nominal GDP), is still fairly poor (142nd-highest nominal GDP per capita), but has a rapidly increasing standard of living (7th-highest real GDP growth rate).
India has a huge economy that produces lots of goods and services (142nd-highest nominal GDP per capita), is still fairly poor (7th-highest nominal GDP), but has a rapidly increasing standard of living (7th-highest real GDP growth rate).
India has a huge economy that produces lots of goods and services (7th-highest nominal GDP), is still fairly poor (7th-highest real GDP growth rate), but has a rapidly increasing standard of…
Chapter 36 Solutions
Economics: Principles & Policy
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