(Solved by Humans)-Question: 1. YEAR EXPORTS(Billions of$) IMPORTS(Billions of $)

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Question:

1. YEAR EXPORTS(Billions of$) IMPORTS(Billions of $) GDP(Billions of $)
? 1975 ? ? ? ?$132.6 ? ? ? ? ? ? ? ? ? ? ? ? $120.2 ? ? ? ? ? ? ? ? ? ? ? ? ? $1,638
? 1976 ? ? ? ?$142.7 ? ? ? ? ? ? ? ? ? ? ? ? ?$148.8 ? ? ? ? ? ? ? ? ? ? ? ? ? $1,825
? 1977 ? ? ? ?$152.3 ? ? ? ? ? ? ? ? ? ? ? ? ? $179.5 ? ? ? ? ? ? ? ? ? ? ? ? ?$2,031
? 1978 ? ? ? $178.4 ? ? ? ? ? ? ? ? ? ? ? ? ? ?$208.2 ? ? ? ? ? ? ? ? ? ? ? ? ? $2,295
? 1979 ? ? ? ?$224.1 ? ? ? ? ? ? ? ? ? ? ? ? ? ?$248.7 ? ? ? ? ? ? ? ? ? ? ? ? ?$2,563
In 1975, the United States ran a trade a. surplus b. deficit equal to a. $12.4 billion b. $11.9 billion c. $132.6 billion or d.$ 120.2 billion
Which of the following statements are correct? a. The United States ran a trade surplus in 1976 b. of the years listed the UNITED States ran its largest trade deficit c. the value of exports increased each year from 1975 to 1979 d. The United States ran consistent trade deficits from 1975 to 1979
2.Suppose that a particular country currently does not allow international trade in cotton.Also, the world price of cotton is higher than the domestic price of cotton.
If this country opened the international trade and allowed free trade in cotton, domestic producers of cotton a. would or b. would not be better off.
3.Suppose that Sweden and the Portugal both produce fish and wine. Swenden's opportunity cost ofcost of producing a bottle of wine is 7 pound pounds of fish,white portugal's opportunity cost of producing a bottle of wine is 4 pounda of fish.. By comparing the opportunity costs pf producing wine in the two countries you can determine that a. Portugal or b.Sweden has a comparative advantage in the production of wine in a. Portugal or b.Sweden has a compartive advantage in production of fish.?
Suppose that Portgual and Sweden consider trading wine and fish each year.Portugal can gain from specialization and trade as long as it receives more than a.1/4 pounds b.1/7 pounds c.4 pounds d.7 pounds or e. 1 pound of fish for each bottle of wine it exports to Sweden. Similarity, Sweden can gain from trade as long as it receives more than a.1 bottle b.1/7 bottle c.7 bottles d.4 bottles or e.1/4 bottles of wine for each pound of fish it exports to Portugal.
Based on your answer to the last question, which of the following terms of trade (meaning the price of wine in terms of fish) would allow both Sweden and Portugal to gain from trade? Check all that apply. a.1 pound of fish per bottle of wine b.5pounds of fish per bottle of wine c.8pounds of fish per bottle of wine d.3pounds of fish per bottle of wine

4.NATION ?A ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?NATION B

PEARLS ?? PINEAPPLES ? ? ? ? ? ? ? ? ? ? ? ? ? PEARLS ? ? PINEAPPLES