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S consump5on without trade consump5on with trade gains

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Unformatted text preview: g 2: U.S. Consump5on With Trade Wheat (tons) 5,000 computers produced 160 + imported 110 wheat 3400 0 4,000 – exported 0 700 3,000 = amount consumed 270 2700 2,000 1,000 0 100 200 300 400 500 Computers 7 Ac5ve Learning 2: Japan’s Consump5on With Trade Wheat (tons) produced + imported – exported = amount consumed 2,000 computers 240 0 110 wheat 0 700 0 130 700 1,000 0 Computers 100 200 300 8 Ac5ve Learning 2: Trade Makes Both Countries Be`er Off U.S. consump5on without trade consump5on with trade gains from trade computers 250 270 20 wheat 2500 2700 200 consump5on without trade consump5on with trade gains from trade computers 120 130 10 wheat 600 700 100 Japan 9 Ac5ve Learning 3 Absolute and Compara5ve Advantage Argen5na and Brazil each have 10,000 hours of labor per month. In Argen5na, –  producing one pound coffee requires 2 hours –  producing one bo`le wine requires 4 hours In Brazil, –  producing one pound coffee requires 1 hour –  producing one bo`le wine requires 5 hours Which country has an absolute advantage in the produc5on of coffee? Which country has a compara5ve advantage in the produc5on of wine? Ac5ve Learning 3 Absolute and Compara5ve Advantage Answers: Brazil has an...
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