Question

How much (in percentage) of the total trade for 2019 correspond to the top three trading partners (Mexico, Canada and China) COMBINED?

2.

Adriana Corporation manufactures football equipment. In planning for next year, the managers want to understand the relation between activity and overhead costs. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last year's operations:

Month	Labor-Hours			Machine-Hours			Overhead Costs
1		3,900			7,000		$	515,000
2		3,800			7,400			520,000
3		3,700			8,000			550,500
4		4,000			7,500			542,500
5		4,200			8,200			582,500
6		4,100			8,100			573,500
7		4,000			7,200			536,500
8		3,900			6,800			511,500
9		3,800			7,500			533,500
10		4,300			8,100			566,500
11		3,600			6,700			504,500
12		3,800			8,400			565,500

Required:

Prepare a scattergraph based on the overhead and labor-hour data.

1. Click on a point to the right of the graph.
2. Click within the graph to place the point.
3. To enter exact coordinates, click on the point and then click on the processing wheel symbol and then enter the exact coordinates in the dialog box that pops up.
4. Click OK.

Answer 1

NEWS POLITICAL NEWS

China's Top Trading Partners

MATTHEW JOHNSTON

Updated August 09, 2019 at 7:22am EDT

Despite the trade war with the U.S., China's foreign trade volume rose 9.7% in 2018 to hit a record high of 30.51 trillion yuan ($4.5 trillion). It recorded a trade surplus, or positive trade balance, of 2.33 trillion yuan. However, the country's economic growth slowed to 6.6% – a 28-year low.

As the second largest economy and a leader in global trade, what happens in China doesn’t stay in China — it affects the rest of the world. So the country's recent slowdown in economic growth and the trade war has significant implications for the global economy but will have the greatest impact on China’s main trading partners: the U.S., Japan and Hong Kong.

The United States

At $20.49 trillion, the United States boasts the largest economy in the world and is China’s largest trading partner. Last year, the total value of bilateral trade between the two countries was $737.1 billion, with U.S. imports from China valued at $557.9 billion and U.S. exports to China valued at $179.3 billion.

US China Trade Balance

The top goods exported from China to the U.S. and their total values for 2018 were electrical machinery ($152 billion), machinery ($117 billion), furniture and bedding ($35 billion), toys and sports equipment ($27 billion), and plastics ($19 billion).

The top goods imported from the U.S. to China and their total values for 2018 were aircrafts ($18 billion), machinery ($14 billion), electrical machinery ($13 billion), optical and medical instruments ($9.8 billion), vehicles ($9.4 billion) and agricultural products ($9.3 billion).

The U.S. exported an estimated $58.9 billion in services to China and imported $18.4 billion in services from the Asian nation in 2018.