Exports in U.S. dollars
$65.95 billion (2015 est.)
$67.42 billion (2014 est.)
Imports in U.S. dollars
$60.56 billion (2015 est.)
$65.25 billion (2014 est.)
Gross Domestic Product (GDP) and Gross National Product (GNP) in U.S. doll
a. International investment position.
i. United States IIP position at the end of the second quarter of 2016 was $8,042.8 billion, according to statistics from the BEA. The net investment
position at the end of the first quarte
Global Economic Issues:
Comparative Advantage and
Adam Smith and David Ricardo assumed that each
country would have its own technology, climate, and
resources, and that these differences would give rise to
Chapter 6&7 homework.
a) How high are tariffs? Tariffs in Belgium could be as high as 17 percent (food and textile) on imports
NOT associated with the EU. The average tariff import or export is 1.50% (2014). Tariff is not charged if
Chapter 3 & 4
11 September 2016
a) Which country has an absolute advantage in bananas? In wheat?
Costa Rica: Bananas
b) What is the relative price of bananas in Costa Rica if it does not trade? In Argentina?
General Agreement on Tariffs and Trades
What is the role of the organization you chose to write about?
The General Agreement on Tariffs and Trades role in international economics is that to
provisionally inforce trade
The growth of world trade. World trade has grown over the last sixty or
seventy years but is roughly comparable in percentage terms to trade in
Trade has become a larger share of national economies as measured