Question

In: Economics

Create a chart classifying ten countries that trade with the United States into three economic groups.

Create a chart classifying ten countries that trade with the United States into three economic groups.

Solutions

Expert Solution

First of all lets make a list of 10 countries that trade with US.

1 china

2 Canada

3 Mexico

4 japan

5 Germany

6 south korea

7 United Kingdom

8 France

9 lndia

10 ltaly.

Now we have to classify these countries into three economic groups. In order to classify, we can use gross national income as a criteria . ( World Bank is well-known for doing such. Classification).

These trading partners of US can be divided into 4 economicgroups - Low income, lower-middle income,upper -middle income and high income

Low income. - None of the 10 trading partners belong to this category.

Lower middle income - India

Upper middle income- Mexico, China,

Higher income- France, Germany , south korea,United Kingdom, Canada, Japan , ltaly

Now we can put this information in a chart.

Rahul Sunny answered 2 years ago
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