巴德 宏观经济学原理（英文版·第8版）Chapter 18 PowerPoint.pptxVIP

Who wins and who loses from globalization? 18When you have completed your study of this chapter, you will be able to1 Explain how markets work with international trade and identify the gains from international trade and its winners and losers.2 Explain the effects of international trade barriers.3 Explain and evaluate arguments used to justify restricting international trade.CHAPTER CHECKLISTInternational Trade Policy 18.1 HOW GLOBAL MARKETS WORKImports are the good and services that people and firms in one country buy from firms in other countries.Exports are the goods and services firms in one country sell to people and firms in other countries. 9.1 HOW GLOBAL MARKETS WORKInternational Trade TodayThe United States is the world’s biggest international trader and accounts for 10 percent of world exports and 12 percent of world imports.In 2012, total U.S. exports were $2.2 trillion, which is about 14 percent of the value of U.S. production.In 2012, total U.S. imports were $2.8 trillion, which is about 17 percent of the value of total U.S. expenditure. 9.1 HOW GLOBAL MARKETS WORKThe United States trades internationally in goods and services.In 2012, U.S. exports of services were $0.6 trillion (30 percent of total exports) and U.S. imports of services were $0.4 trillion (16 percent of total imports).The largest U.S. exports of goods are airplanes.The largest U.S. imports of goods are crude oil and automobiles.The largest U.S. exports of services are royalties, license fees, banking, business consulting, and other private services. 9.1 HOW GLOBAL MARKETS WORKWhat Drives International Trade?The fundamental force that generates trade between nations is comparative advantage. The basis for comparative trade is divergent opportunity costs between countries. National comparative advantage is the ability of a nation to perform an activity or produce a good or service at a lower opportunity cost than any other nation. 9.1 HOW GLOBAL MARKETS WORKThe opportunity