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Chapter 5 - The United States in the Global Economy
International Linkages
The United States and World Trade
Specialization and Comparative Advantage
- Trade flows
- Resource flows
- Information and technology flows
- Financial flows
The United States and World Trade
Specialization and Comparative Advantage
- Specialization allows for overall increase in output and income
- Production Possibilities Analysis
- Assumptions and Comparative Costs
- Terms of Trade: a mutually beneficial agreement in which each benefits better than they would if they were to continue domestic production by itself
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| SharonLi | I made the page edit at 4:20 | 0 | Aug 27 2007, 4:23 AM EDT by SharonLi | ||
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Thread started: Aug 27 2007, 4:23 AM EDT
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By the way, I made the anonymous update at 4:20. I forgot to sign in and updated it. and then I realized I was not signed in, so I signed in and made this comment.
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