The following are data on U.S. exports and imports in 2007. Use the information in the...

 

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The following are data on U.S. exports and imports in 2007. Use the information in the table to answer the questions below. Product Exports ($ billions) Imports ($ billions) Beverages 3.6 14.7 Pharmaceutical products 40.7 55.6 Cotton 4.9 0.8 Apparel 1.9 33.3 Footwear 1.0 17.6 Iron and steel 15.4 12.4 Copper 5.0 6.4 Electric machinery 124.9 212.1 Vehicles 73.6 131.9 Aircraft 83.0 18.4 Furniture 7.0 30.1 Toys 7.0 27.6 Calculate the intra-industry trade index for aircraft. Using the calculated index, what model of trade discussed in class do you think explains the observed trade pattern in aircraft between the U.S. and the rest of the world? Discuss the welfare implications of the model for the U.S. and various groups of interest in the U.S. The following are data on U.S. exports and imports in 2007. Use the information in the table to answer the questions below. Product Exports ($ billions) Imports ($ billions) Beverages 3.6 14.7 Pharmaceutical products 40.7 55.6 Cotton 4.9 0.8 Apparel 1.9 33.3 Footwear 1.0 17.6 Iron and steel 15.4 12.4 Copper 5.0 6.4 Electric machinery 124.9 212.1 Vehicles 73.6 131.9 Aircraft 83.0 18.4 Furniture 7.0 30.1 Toys 7.0 27.6 Calculate the intra-industry trade index for aircraft. Using the calculated index, what model of trade discussed in class do you think explains the observed trade pattern in aircraft between the U.S. and the rest of the world? Discuss the welfare implications of the model for the U.S. and various groups of interest in the U.S.

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foor the Aircaafts Exposta 63o billions Imports 4 184 billions We ... View the full answer