Question: While thinking about what you learned in Chapter 2 in your textbook, select ONE state in the United States. Write a new thread in which

While thinking about what you learned in Chapter 2 in your textbook, select ONE state in the United States. Write a new thread in which you respond to all of the following prompts/questions: Indicate your chosen state. List three major goods and/or services the state produces/provides before COVID-19 crisis. Indicate the state's January 2020 and the most recent month's unemployment rates from the Bureau of Labor Statistics. Does your chosen state have an absolute advantage in the goods/services that you identified in part 2 compared to other states in United States before COVID-19 crisis? Explain how in detail. Does your chosen state have a comparative advantage in the goods/services that you identified in part 2 compared to other states in United States before COVID-19 crisis? Explain how in detail. Is the state still holding on their absolute and comparative during/after COVID-19 crisis? Are there other areas for specialization and trade overlooked by the state? If so, do name ONE area and explain your choice

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!