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Trade Choices

Trade Choices. You have $1,000 to spend and your alternatives are to: Purchase one U.S. made television and one U.S. made bicycle. or Purchase one Chinese made television, one Korean made bicycle and two cases of French wine. or

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Trade Choices

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  1. Trade Choices • You have $1,000 to spend and your alternatives are to: Purchase one U.S. made television and one U.S. made bicycle. or Purchase one Chinese made television, one Korean made bicycle and two cases of French wine. or Use the $1,000 for investment in the stock of a Canadian company. Which do you choose to do?

  2. Voluntary Trade Creates Wealth

  3. Apples and Oranges Apple price $.70/lb Orange Price $.70/lb Washington Rancher 20 acres yields Apples 50 bu/acre Oranges 1bu/acre Florida Rancher 20 acres yields Apples 2bu/acre Oranges 40 bu/acre

  4. U.S. GDP and Trade Nominal $$ billions www.bea.gov

  5. U.S. Exports and Imports Imports Exports Bea.gov

  6. Top Trading Partners 2015Data are goods only, in billions of dollars Bea.gov

  7. Trade with Canada, 2015in billions of dollars tse.export.gov

  8. Trade with Mexico, 2015in billions of dollars tse.export.gov

  9. Trade with China, 2015in billions of dollars tse.export.gov

  10. Export of Goods by Principle End-Use Category 2015

  11. Imports of Goods by End-Use Category 2015

  12. .U.S. Services Exports 2015

  13. U.S. Service Imports 2015

  14. Sources of U. S. Imports 2015

  15. Destination of U.S. Exports 2015

  16. Kenneth Leonard PhD Foundation for Teaching Economics

  17. NAFTA NAFTA 20 Years After: Neither Miracle nor Disaster

  18. U. S. Goods Trade Balance With Other Nations, 2015 ($US - billions) http://www.census.gov/foreign-trade/balance/

  19. U.S. Balance of Payments 2013 ($ millions) Current Account -400,254 Goods & Services exports 2,280,194 Goods 1,561,835; Services 687,410 Goods & Services imports -2,756,586 Goods -2,294,453; Services -462,134 Net Transfers -123,516 Net Income Payments 199,654 Capital Account +400,254 U.S. Owned Assets Abroad -644,763 Other investment Foreign Owned Assets in the U.S. 1,017,669 Statistical Discrepancy 30.008 http:bea.gov

  20. International Comparisons of Hourly Compensation Costs in Manufacturing

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