The following table shows imports and exports of goods during 2013 for the United States: What, if
Question:
What, if anything, can you conclude about the comparative advantage that the United States has relative to its trading partners in the production of goods? What stories can you tell about the wide disparities in apparel and aircraft?
Transcribed Image Text:
Exports Imports 2,294.6 14.1 93.7 272.8 308.8 115.1 1,592.0 53.7 6.9 4.9 152.6 136.2 Total Civilian aircraft Apparel, household goods-textile Crude oil Vehicles, parts, and engines Foods, feeds, and beverages
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Clearly apparel is produced with cheap labor and we buy most of our apparel fro...View the full answer
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Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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