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Occupational Health and Safety, Canadian Edition

15th Edition
by David L. Goetsch, University of West Florida and Oskaloosa-Walton Eugene Ozon, Algonquin College
1035 Solutions 49 Chapters 1444 Studied ISBN: 0133450244 Computer Science 5 (1)

Chapters 25: DQ 10

10. Define net exports. Explain how U.S. exports and imports each affects domestic production. How are net exports determined? Explain how net exports might be a negative amount.


Step-By-Step Solution

10. Define net exports. Explain how U.S. exports and imports each affects domestic production. How are net exports determined? Explain how net exports might be a negative amount.

Answer: Net exports are a country’s exports of goods and services less its imports of goods and services. The United States’ exports are as much a part of the nation’s production as are the expenditures of its own consumers on goods and services made in the United States. Therefore, the United States’ exports must be counted as part of GDP. On the other hand, imports, being produced in foreign countries, are part of those countries’ GDPs. When Americans buy imports, these expenditures must be subtracted from the United States’ GDP, for these expenditures are not made on the United States’ production.

Consider the following values. If American exports are $7 billion and imports are $5 billion, then American net exports are +$2 billion. If the figures are reversed, so that Americans export $5 billion and import $7 billion, then net exports are ‑$2 billion—a negative amount. Thus, if Americans import more goods and services than they export then net exports will be a negative amount.


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