Variations in Economic Structure

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Presentation transcript:

Variations in Economic Structure Gross National Income PI PI PI

Distribution of Gross Domestic Product (%) GDP = Final Sales to Government, Consumers & Investment Note: 2003 Exports includes services

Imports/Exports 2002-2003 ($ billions)

Structure of Merchandise Exports (%)

Structure of Merchandise Imports (%)

Index of Personal Income by State Relative to U.S.

Labor Market Adjustment Model North D S South S D S D D S QSouth QNorth

Changing Composition of Employment in the U.S.

Development of the U.S. Service Sector

Decomposition of Services

Development: The Circular Model of Capital Flow Interest rates Tax policy & public investment Stock of Productive Capacity Industrial Output Final Consumer Demand Investment “Savings” Business Income (Value Added) Payments to Households “Savings” - retained earnings, household savings, institutional investors, international capital sources

Vance’s Exogenic And Endogenic Model

Impact of Scale Economies on Market Division B A Market Division Market Division P t P t P P t a a a a I II I II distance

Impact of Transport Improvement Market Division P P I II

Process of Regional Specialization Region B Region A Initial Condition: No Interregional Trade Local Production Equals Location Consumption

Process of Regional Specialization, Continued Exports to A Exports To B Region A Region B Imports from A Imports from B

Process of Regional Specialization, Continued Interregional Exports Production for Local Use Production for Local Use Interregional Imports