By definition, net exports from Japan are equal to exports from Japan minus impo

Question

By definition, net exports from Japan are equal to exports from Japan minus imports into Japan. In our two-country world, imports into Japan are equal to exports from the United States. So the value for net exports from Japan is equal to exports from Japan minus exports from the United States. Graphically, at each exchange rate, the value for net exports is the horizontal distance from U.S. exports to Japanese exports.

The first two parts of this mutipart problem ask you to use a calculator that shows how exports for both Japan and the United States depend on the price of yen. The third part of the question asks you to plot net exports from Japan using data that you collect from the calculator in the first two parts.

Explanation / Answer

B. 83 yen per dollar

We have the rate as 1000 yen for 12 dollar, therefore

1 dollar = 1000/12 = 83 yen

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