Chapter 4. Chapter 4

Data Exercises
Chapter 4
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Under Application: Are Factor Intensities the Same Across Countries? the section discusses the use of different technologies to make shoes in the United States and in Asia. In this question, you will be asked to look at export and import data for the United States.

The source of the data is the United States International Trade Commission, and it is available United States International Trade Commission. To access the data:

1. Under “U.S. Exports,” find “Table US.2: U.S. total exports, general imports, and merchandise trade balance, by major industry/commodity sectors, 2010–14.”

2. Appropriate data by sector will be found under the headings “U.S. total exports” and “U.S. general imports.”

Question

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To determine the sector with the largest export value in 2014, look at the table “U.S. total exports” and compare the values for all sectors under the year 2014. Choose the sector with the largest number.

Question

b. What was the export value, in millions USD, of that sector?

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Correct answer: 335,639 millions USD. To determine the value of the largest export sector in 2014, look at the table “U.S. total exports” and compare the values for all sectors under the year 2014. Choose the value for the largest export sector.

Question

c. In 2014, what was the import value, in millions USD, to the U.S of the Transportation equipment sector?

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Correct answer: 403,018 millions USD. To determine the import value of the Transportation equipment sector in 2014, look at the table “U.S. general imports,” find “Transportation equipment,” and determine the import value by looking under the year 2014.

Question

d. In 2014, what was the import place rank, in dollar value, of the Transportation equipment sector?

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Correct answer: 2. To determine the import place rank of the Transportation equipment sector in 2014, look at the table “U.S. general imports” and find “Transportation equipment.” Look at the import value under 2014, and then compare that value to the other sectors to determine the place rank of Transportation equipment among all sectors.
Data Exercises
Chapter 4
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Now you will utilize data from the U.S. Department of Labor on the productivity of labor in the United States. The data are available Productivity and Costs by Industry. To access the data:

1. Scroll down the page to “Table 1 Recent labor productivity, unit labor costs, and related data.”

2. Within the table, scroll down to find data for the appropriate industry.

Question

a. What was the percentage change in labor productivity in the Transportation equipment industry from 2014 to 2015?

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Correct answer: 0.4. To identify the percentage change in labor productivity in the Transportation equipment industry from 2014 to 2015, scroll down the list of industries until you see “Transportation equipment.” Read across to find the percentage change in labor productivity.

Question

b. Within the Transportation equipment industry, what was the percentage change in labor productivity in the Motor vehicles industry from 2014 to 2015?

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Correct answer: -0.5. To identify the percentage change in labor productivity in the Motor vehicles industry from 2014 to 2015, scroll down the list of industries until you see “Transportation equipment” and look under the subheadings for “Motor vehicles.” Read across to find the percentage change in labor productivity.
Data Exercises
Chapter 4
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Comparing the data from the first question and the second question, choose whether the following statements are correct or incorrect.

Question

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The data show that the United States exported transportation equipment valued at $335,639 million and imported transportation equipment valued at $403.018; therefore, the value of imports was greater than the value of exports.

Question

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The data indicate that productivity in the Motor vehicles industry decreased 0.5% over the period 2014–2015.

Question

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The minimal growth in labor productivity in the Transportation industry, and the negative labor productivity growth in the Motor vehicle industry, are a possible explanation why the United States imports more transportation equipment than it exports.