the amount of u.s. exports helps explain why: course hero

What is the relationship between imports and exports in an economy?

Feb 24, 2022 · Therefore, the USA hold both the absolute and comparative advantage in the production of aircrafts. On the other hand, Japan due to it's engineering prowess and factory management they have a lower opportunity cost in the production of cars thus giving them a comparative advantage. There exists an opportunity for free trade according to Adam ...

How do exports and imports affect the AD/as model?

In certain circumstances, governments have been forced to spend a large amount of money on revenue expenditures. Governments employ lending to regulate the economic growth of the country via banking system. Inflation is defined as a widespread increase in the prices of commodities in the economy.

What is Course Hero doing with its huge data base?

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Is Course Hero really worth $1 billion?

Economy A will return to the natural rate of output sooner. There is not enough information to make a decision. Economy B will return to the natural rate of output sooner. The ______________ effect helps explain why an increase in the price level causes a …

What is imports and exports?

Exports are goods and services a nation's companies sell to people overseas.

What is exports in business?

Exports are goods and services a nation's companies sell to people overseas. There are advantages to both importing and exporting goods, but a prolonged trade imbalance, also known as a trade deficit, is generally viewed as a negative for a country's economy.

What is trade balance?

Balance of Trade (BOT), also known as trade balance is the total sum of a nation's exports minus the value of its imports. Its value is expressed in currency form. A country is said to have a trade imbalance or deficit if its imports are greater than its exports. Imports refer to goods and services a country's people buy from foreign companies.

How does a trade deficit affect the economy?

Theoretically, a trade deficit can hurt a country's employment levels if its goods aren't purchased abroad. That's because the country whose goods don't enjoy foreign or domestic demand might lose jobs in manufacturing those goods, potentially causing the economy to suffer.

How did NAFTA affect the US economy?

However, NAFTA caused an exodus of about 700,000 manufacturing jobs from the U.S. to Mexico, according to the AFL-CIO.

How much was China's trade surplus in 2017?

Meanwhile, in 2017 China had a trade surplus of about $419 billion. The U.S. deficit has deepened over the past years, and the U.S. Census Bureau and the U.S. Bureau of Economic Analysis said monthly goods and services trade deficit for October 2018 increased by 1.7% to $55.5 billion, up $900 million from $54.6 billion in September.

What is trade deficit?

A trade deficit is when a country's imports exceed its exports. In other words, more products manufactured abroad are entering the country than products being manufactured domestically are shipping overseas.

What is the ultimate scarce resource?

Of course, the ultimate scarce resource is time- everyone, rich or poor, has just 24 hours in the day to try to acquire the goods they want. At any point in time, there is only a finite amount of resources available.

Why is economics important?

Most important, economics provides the tools to work out those puzzles. If you have yet to be been bitten by the economics “bug,” there are other reasons why you should study economics.

What is economics learning?

Learning Objectives. Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life.

When did Adam Smith start studying economics?

The Division of and Specialization of Labor. The formal study of economics began when Adam Smith (1723 –1790 ) published his famous book The Wealth of Nations in 1776. Many authors had written on economics in the centuries before Smith, but he was the first to address the subject in a comprehensive way.

What is scarcity in economics?

Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life. Scarcity means that human wants for goods, services and resources exceed what is available.

What are the major problems facing the world today?

Virtually every major problem facing the world today, from global warming, to world poverty, to the conflicts in Syria, Afghanistan, and Somalia, has an economic dimension. If you are going to be part of solving those problems, you need to be able to understand them. Economics is crucial.

What is the problem of scarcity?

Economics seeks to solve the problem of scarcity, which is when human wants for goods and services exceed the available supply. A modern economy displays a division of labor, in which people earn income by specializing in what they produce and then use that income to purchase the products they need or want.

What is Course Hero's top priority?

But its other two “big bets,” Grauer says, are (1) using the vast data at its disposal (in terms of the sorts of content and help students are looking for) to create its own content and (2) building out its portal for educators.

When was Course Hero founded?

Course Hero was founded in 2006, one of a slew of websites that enabled students to post and download syllabi, worksheets, essays, previous exams and other course materials. Among its differentiators was that the materials were all tied to specific courses.

How much does Woodrow Wilson Fellowship cost?

The company also two years ago started a fellowship program through the Woodrow Wilson National Fellowship Foundation, which in 2019 awarded grants of $30,000 to four tenure-track instructors and grants of $20,000 to four adjuncts or instructors off the tenure track.

Who is the CEO of Course Hero?

Grauer, the Course Hero CEO and co-founder, says the company combats potential academic misconduct in every way it can. Any time it identifies cases of abuse, "or where it becomes exceedingly clear that there is abuse," site monitors "remove that content.".

Is tutoring legitimate?

It's a "totally legitimate point that sharing documents can be beneficial in some particular cases and that tutoring can be legitimate in many cases," says Rettinger, professor of psychological sciences and director of academic programs at the University of Mary Washington, in Virginia.