Problem Set 3.pptx - Problem Set#3 Jack Limongelli Question...

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Problem Set #3 Jack Limongelli
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Question 1, Part A Mean Min Max IQR US Exports 33284499910.73 3223226812.00 291757629857.00 23654534991.00 Relative GDP 8.79 0.71 76.69 7.97 Distance 8813.47 548.39 16180.32 5173.99
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Question 1, Part A US Exports: The average US exports is 33 billion, while the max is 291 billion. This suggests that the US trades heavily with just a few countries—Canada, Mexico, and China—and sparingly with many other countries. Relative GDP: With only 10 countries having a relative GDP of 10% of US GDP and only China having a relative GDP greater than 50%, the US is by far the largest economic country. This large differentiation suggests the US is not largely affected by trade with most individual countries and that the US potentially has large influence in international markets. Distance: In the world today, distance is irrelevant. Shipping has progressed enough so any country can easily trade with any other, regardless of global location.
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Question 1, Part B -0.50 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 21.50 22.00 22.50 23.00 23.50 24.00 24.50 25.00 25.50 26.00 26.50 US Exports vs Country Relative GDP Country's Relative GDP (natural log) US Exports to Country (natural log)
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