1. GDP:Calculate the values that will fill in the blanks in the shaded areas of the table below (please note that you do not need to reproduce this table, just provide the values and identify them clearly):

1. Based on the information in the table and your calculations for Question #1:

Does any countries have positive net exports?__________________Which one(s)?_____________________________________________________

Which country has the largest negative net exports?____________________________________

1. Suppose that one of the countries in the table above asks for your advice about trade. Policymakers in the country want information about the impact of trade on GDP and whether they should be concerned about negative (or positive) net exports. How would you respond?

1. Economic growth:Based on information from the World Bank, in 2018, GDP per capita was $62,641.0 in the United States and $77,449.7 in Ireland - very similar values (and relatively high values compared to many countries). But, the annual rate of GDP growth averages 2.2% in the United States and 5.6% in Ireland.

Would you predict the United States or Ireland to have a more rapid increase in the standard of living in the long run?_________________

Discuss what evidence/theory from Chapter 11 you are using to support this prediction.

1. The United Nations Human Development Index (HDI) uses information about a country's life expectancy at birth (health), expected years of schooling and mean years of schooling (education), and Gross National Income per capita (standard of living) to create measure that ranges from 1 (very high) to 0 (very low). For 2017, the United States had a value of 0.924, compared to 0.926 for Canada and 0.922 for the United Kingdom - very similar values.

Based on this information, suppose a developing country (such as Afghanistan and Haiti which each had a value of 0.498) asks for your advice on which country it should try toemulate in order to increase its level of development and economic growth.Which country would you choose?Explain what additional information about each country wouldbe important to making this assessment.

Expenditure Components of GDP by Country, 2017 (billions of US dollars) Brazil Canada France Germany India Japan Norway UK US Consumption 1303.9 956.2 1396.4 1952.0 1522.4 2704.4 177.9 1729.4 13321.4 Investment Business fixed investment 321.4 375.1 582.1 753.5 772.6 1169.5 99.7 451.8 3985.7 Changes in inventories -2.7 13.5 23.7 -11.4 16.4 -2.3 12.8 4.0 25.5 Government 412.1 341.2 608.7 719.9 293.1 956.4 96.4 479.7 2731.2 Net Exports Exports 258.3 511.4 797.5 1737.6 490.5 860.2 144.7 795.1 2350.2 Imports 237.4 550.3 826.0 1458.3 567.3 815.8 132.1 824.3 2928.6 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices - US dollars