The following table identifies the real value of exports,imports,and gross domestic product (GDP)for a country for three different years,measured in billions of dollars.
a.During this time period,what has happened to exports and imports as a percentage of GDP? Calculate the values.
b.During this time period,what has happened to the trade balance? Calculate the values.
c.Provide a plausible explanation for why the values might have changed in the way they did.
Definitions:
Corporate Merger
The process where two or more companies combine to form a new entity, often to expand market share, reduce competition, or achieve economies of scale.
Sherman Act
This law is a landmark legal statute in the U.S. that prohibits monopolies and any agreements that restrict free trade, aiming to foster competition.
Monopoly Power
The ability of a single seller to control market prices and exclude competitors within a particular market.
Tying Contracts
Agreements where the sale of one product (the tying product) is conditional on the purchase of a second, distinct product (the tied product).
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