The United States€™ market shares (percentages) of world manufacturing are described by the time-series plots in Figs. 128 and 129 for various years.
Fig. 128

Fig. 129

a. If the Obama administration wants to de-emphasize how much the U.S. market share of world manufacturing has decreased, which time-series plot would it display? Explain.
b. If the Republican Party wants to emphasize how much the market share has decreased, which time-series plot would it display? Explain.
c. From which time-series plot are you more likely to better estimate the market share in 2010? Explain. Estimate the market share in that year.
d. Estimate the change in market share from 2004 to 2012. If the market share were to change that same amount from 2012 to 2020, what would be the market share in 2020? Do you have much faith that your result will turn out to be true? Explain.
e. World manufacturing output was $11.4 trillion in 2012. Estimate the U.S. manufacturing output in that year.

Transcribed Image Text:

Market Shares of Manufacturing Output 25 20 15 10 2004 2006 2008 2010 2012 Year Market Shares of Manufacturing Output 27 25 23 21 19 17 15 2004 2006 2008 2010 2012 Year