NTvidterm/summer 18 2. Yassin takes a university teaching job as an assistant pr
ID: 1166118 • Letter: N
Question
NTvidterm/summer 18 2. Yassin takes a university teaching job as an assistant professor in 2002 at a salary of $10,000. By 2010, she has been promoted to full professor, with a salary of $50,000. If the price index in 2002 is 50, and the price index in 2010 is 200. a. What is Yassin's 2010 salary in 2002 dollars? b. What is Yassin's 2002 salary in 2010 dollars? c. Is Yassin better-off or worst-off in 2010 than in 2002? Explain your answer. 6 points) 6 points) (5 points) d. The U.S. buys $450 billion of goods and $500 billion of services from China And China buys $700 billion of goods and $480 billion of services from the U.S. What is U.S. net exports? What is China's net export? Does the U.S GDP increase or decrease? By how much does U.S. increase or decrease? (8 points)Explanation / Answer
Ans : U.S net exports = $ 230 billion
Explanation:
Total import of U.S = $450 billion + $ 500 billion = $950 billion
Total export of U.S = $700 billion + $480 billion = $ 1180 billion
Net export = Export - Imports
= $ 1180 - $ 950
= $ 230 billion
Ans:China's net export = - $230 billion
Explanation:
Total export of China = $450 billion + $ 500 billion = $950 billion
Total import of China = $700 billion + $480 billion = $ 1180 billion
Net export = Export - Imports
= $ 950 - $ 1180
= - $230 billion
Ans : Yes , U.S GDP increases.
Explanation :
GDP = C + I + G + ( Ex - Im )
If net export value is positive , the value of GDP will increase. In this case the U.S net export is positive.
Ans : By $ 230 billion U.S GDP increases.
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