Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please solve this its urgent ii Open the data file using MS Excel (or any comparable software programs to open spreadsheets that allows basic data

Please solve this its urgent

image text in transcribedimage text in transcribed
ii Open the data file using MS Excel (or any comparable software programs to open spreadsheets that allows basic data analysis) and select the Data tab on top. iii Click on Filter. You will then see little arrows appear on the first row in each cell. iv Click on the arrow in the cell next to "Country." Here, you can arrange the data in a way that allows you to view only the country of interest. More specifically, unselect "Select All" then scroll down to find the country you want to see and make the selection. v Column E shows the value of exports using data from January. Click on the arrow next to "ExportsFASValueBasisJan" and click "descending" which will then rearrange the U.S. export data for the country of interest . vi Follow the same steps using Column F for U.S. import data.2. (Empirical Exercise) Is the pattern of trade consistent with the idea of comparative advantage? Sometimes it is difficult to say which nation has a comparative advantage in producing a given item, but let's look at trade (export and import) in the following items between the U.S. and a few other countries to see if the pattern of trade fits what we expect. . United States: computers and machine tools; Brazil: coffee and agricultural exports . United States: computers and machine tools; South Korea: manufactured goods . United States: computers and machine tools; Venezuela: fuel and natural resources Go to the U.S. Census Bureau's site on to bilateral trade statistics for the U.S. and an- other country: https://www.census.gov/foreign-trade/statistics/country/site/index.html and download the database. (a) Try the above examples or investigate other countries and goods that might be interesting. Report your findings and discuss your result. Hint: Recommended steps to follow for this exercise i Download the database "2015-Present" from "Exports and Imports Totals 1-digit SITC."

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Placement Economics Microeconomics

Authors: Gary L. Stone

4th Edition

1561836699, 978-1561836697

More Books

Students also viewed these Economics questions

Question

How often do managers need product cost information?

Answered: 1 week ago

Question

=+Robinson Crusoe can gather 10 coconuts or catch 1 fish per hour.

Answered: 1 week ago