{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Per capita income becomes a basis for trade figure

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: port X. Per capita income becomes a basis for trade. Figure 14.3 Figure 14.4 X2 X2 p* p* p* Xh Df γ Xf X1 Dh p* p* X1 Table 14.1: Income elasticities of demand for various consumption goods and services Food 0.45 Household furniture 0.76 Fuel and power 0.81 Education 0.87 Clothing and footwear 1.00 Beverages and tobacco 1.23 Other 1.25 Recreation 1.42 Transportation and communication 1.72 Gross rent 1.74 Medical 1.91 Figure 14.4 Food insecurity, however, is not a problem for most of China’s population. China’s per capita food supply, measured by calories per person per day, was 8 percent above the world average in 1999 (fig. B-2). Famine and food insecurity were common in China’s past, but food consumption and food availability have soared since economic reforms began in the late 1970s. Figure B-3 Food consumption shares by food category, China, world, and United States, 1999 Percent 100 80 Sugar and sweeteners Fats & oils Fish High Consumption of Grains and Vegetables 70 Meat Grains (mostly rice and wheat) and vegetables, by weight, make up about 70 percent of per capita food consumption in China, a much higher share than in the United States (fig. B-3). China’s per ca...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online