Ch 5 Global Trade [AP & Reg]

12 exports have more than doubled more as a percent

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: because they would not buy from U.S. rice farmers. Watermelon $5 $50 $5 $50 Cup of coffee $1 $7 $1 $7 Japanese consumers pay Cab to airport $20 $200 $20 $200 $600,000 in higher prices Stamp .39 .79 .39 .79 for each job protected. Gallon of gasoline $2.15 $6.00 $2.15 $6.00 Newspaper .50 $1.00 .50 $1.00 Movie Ticket $14 $20 $14 $20 We have 550 cars per 1,000; Japan has only 240 per 1000 inhabitants. 550 240 Japanese cameras are more expensive in Tokyo than in New York. In Tokyo, are more Japanese Tokyo you have to have a sizable inheritance to be able to afford a house. Their national debt is $31,000 per capita, compared to $28,600 in the U.S. Japan $31,000 has had a decade-long economic tailspin, even with interest rates less than 1%. decade-long interest Export Goods & Services make up about 12% of American GDP. 12% Exports have more than doubled more as a percent of GDP since 1975 1975 $764 billion trade deficit in 2006 2006 [Selected Nations] [Selected Percentage Share of World Exports, 2004 0 Germany Germany United States China Japan France Netherlands Italy United Kingdom 2 4 6 8 10 12 10.0 8.9 6.5 6.2 4.9 3.9 3.8 3.8 Source: World Trade Organization I Can do 8 I Can do 8 push­ups. I Can do 42 push­ups, but 102 I have an absolute advantage, I can do 42 if you play the Aggie Fight push­ups. Song. FSU Seminole UF Gator UF I can clean that house in 4 hours. Future Owl Maid I’m more efficient. I can do the same work in 3 hours so I have an absolute...
View Full Document

Ask a homework question - tutors are online