lecture note 9

Per capita income becomes a basis for trade figure

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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...
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This document was uploaded on 03/09/2014 for the course ASTRO 3730 at Colorado.

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