Trade Can Make Everyone Better Off Mankiw’s Ten Principles of Economics
China has been growing at a phenomenal rate and recently became the second largest economy in the world. Discuss economic reasons why trade with China (both in terms of importing and exporting) is beneficial to the United States.
Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.
Please focus on this prompt and no graph. Do not use graph and everything about the essay must be all about this prompt provided above. This essay will be summit on "write experience"(ONLINE) so keywords are extremely important. Could you mention these in the Essay? No graph.
Natural Resource "ACCESS"
-Production Possibility Frontier (PPF) , just explain relation to prompt but dont use graph in the essay.
each country produce 2 goods X and Y
no trade at all. Then,
Consumption Possibility = Production Possibility
A country produce only Y.
B country produce only X.
(They trade with each other half of their production at a rate of 1:1)
both countries can gain from trade and obtain a combination that is not available to them without trade.
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