Chapter
32
International
Trade
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
32­1
Chapter
Objectives
Specialization
and
trade
Domestic
exchange
equations
Absolute
advantage
and
comparative
advantage
Tariffs
or
quotas
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
32­2
Chapter
Objectives
The
causes
of
our
trade
imbalance
What
can
we
do
to
restore
our
balance
of
trade?
Our
trade
deficits
with
Japan
and
China
U.S.
Trade
policy:
A
historical
view
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
32­3