Show:
Definitions
Absolute Advantage
Comparative Advantage
Depriciation
Appreciation
100
Based on who makes more
What is absolute advantage?
100
this country has the absolute advantage in clogs chocolate(lbs) clogs(pairs) Germany 600 95 Netherlands 350 275
What is Netherlands?
100
this country has the comparative advantage for shirts shirts soda U.S. 15 40 Canada 9 38
What is U.S.?
100
Worth less
What is depreciation?
100
The tariffs in the U.S. increases. This happens to the U.S. dollar.
What is appreciation?
200
Based on the country that has the smallest opportunity cost
What is comparative advantage?
200
this country has the absolute advantage in gummy bears gummy bears(lbs) faygo root beer(liters) Guatemala 80 40 Canada 70 100
What is Guatemala?
200
this country has the comparative advantage in chocolate chocolate(lbs) clogs(pairs) Germany 600 95 Netherlands 350 275
What is Germany?
200
a graph that shows depreciation of the U.S. dollar
What is draw a graph(look at page)
200
Currency is worth more.
What is appreciation?
300
The country that should produce a product (usually based on the opportunity cost)
What is specialization?
300
this country has the absolute advantage in soda shirts soda U.S. 15 40 Canada 9 38
What is Canada?
300
this country has the comparative advantage in gummy bears gummy bears(lbs) faygo root beer(liters) Guatemala 80 40 Canada 70 100
What is Guatemala?
300
The interest rates in Japan increases this happens to the U.S. dollar
What is depreciation?
300
The number one problem in economics.
What is scarcity?
400
The next best thing
What is opportunity cost?
400
This country has the absolute advantage for toothbrush's dog sweaters toothbrush's Ireland 30 100 Scotland 60 80
What is Ireland?
400
Argentina has the comparative advantage in this product Flags Toilet Paper Argentina 40 50 Puerto rico 50 40
What is toilet paper?
400
Increase in visitors to Ireland. This happens to the U.S. dollar.
What is draw graph(look at key)
400
a graph that shows appreciation of the U.S. dollar
What is draw graph(look at key)
500
Final good or product
What is output?
500
This country has the absolute advantage for tomatoes Tomatoes Pickles U.S. 80 90 Mexico 120 30
What is Mexico?
500
This country has the comparative advantage for shirts books shirts U.S. 60 30 Guatemala 100 10
What is U.S.?
500
decrease in visitors to Ireland. This happens to the U.S. dollar.
What is graph (look at key)