4-Trade with Cuba All Sections Free trade rearranges the economy, it creates jobs in some sectors and destroys them in others. Suppose we open up with free trade with Cuba. This eliminates 20,000 jobs in the American tobacco and sugar industries, whereas it causes 5,000 more jobs in the car industry, In Cuba, it creates 15,000 jobs in the tobacco and sugar industries and costs 5,000 jobs in the car industry. The price of sugar and cigars falls in the US, and the price of cars falls in Cuba as a result Should the US. welcome free trade in this situation? Should Cuba?
4-Trade with Cuba All Sections Free trade rearranges the economy, it creates jobs in some sectors and destroys them in others. Suppose we open up with free trade with Cuba. This eliminates 20,000 jobs in the American tobacco and sugar industries, whereas it causes 5,000 more jobs in the car industry, In Cuba, it creates 15,000 jobs in the tobacco and sugar industries and costs 5,000 jobs in the car industry. The price of sugar and cigars falls in the US, and the price of cars falls in Cuba as a result Should the US. welcome free trade in this situation? Should Cuba?
Chapter1: Making Economics Decisions
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4-Trade with Cuba
All Sections
Free trade rearranges the economy, it creates jobs in some sectors and destroys them in others. Suppose we open up with free trade with Cuba. This eliminates 20,000 jobs in the American tobacco and sugar industries, whereas it causes 5,000 more jobs in the car industry, In Cuba, it creates 15,000 jobs in the tobacco and sugar industries and costs 5,000 jobs in the car industry. The price of sugar and cigars falls in the US, and the price of cars falls in Cuba as a result
Should the US. welcome free trade in this situation? Should Cuba?
Transcribed Image Text:4-Trade with Cuba
All Sections
Free trade rearranges the economy; it creates jobs in some sectors and destroys them in others. Suppose we open up with free trade with Cuba. This
eliminates 10,000 jobs in the American tobacco and sugar industries, whereas it causes 5,000 more jobs in the car industry. In Cuba, it creates 15,000
jobs in the tobacco and sugar industries and costs 5,000 jobs in the car industry. The price of sugar and cigars falls in the U.S., and the price of cars falls
in Cuba as a result.
Should the U.S. welcome free trade in this situation? Should Cuba?
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