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Unformatted text preview: C. Note on graphing: Appendix A D. Opportunity Cost Application: International Trade 1. Questions to Answer a. If workers in the United States are the most productive in the world, why do we consume so many imported goods? b. If trade can make everyone better off, why is there so much opposition to it? 2. Tool: Production Possibilities Frontier (PPF) a. Efficiency b. Numerical Slope = Opportunity Cost c. Optimal Point? d. No Trade (Autarky) Case: Production = Consumption III: NEXT TIME A. Finish Chapter 2: Economic Activities. .. B. Begin Chapter 3: Supply and Demand: Theory...
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This note was uploaded on 04/10/2008 for the course ECON 2000 taught by Professor Roussell during the Spring '06 term at LSU.
- Spring '06
- Opportunity Cost