In 2019 worldwide food exports totaled $700 billion. In the same year, US food exports were $90 billion. In 2019, worldwide total exports were $20.5 trillion. In 2019, US total exports were $2.9 trillion. Calculate the Belassa index for US food exports. By this measure, does the US have comparative advantage in food products?
In 2019 worldwide food exports totaled $700 billion. In the same year, US food exports were $90 billion. In 2019, worldwide total exports were $20.5 trillion. In 2019, US total exports were $2.9 trillion. Calculate the Belassa index for US food exports. By this measure, does the US have comparative advantage in food products?
Chapter1: Making Economics Decisions
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In 2019 worldwide food exports totaled $700 billion. In the same year, US food exports were $90 billion. In 2019, worldwide total exports were $20.5 trillion. In 2019, US total exports were $2.9 trillion. Calculate the Belassa index for US food exports. By this measure, does the US have
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