1. Trade and Comparative Advantage

2. Which country was the biggest trading partner for the U.S. in 2006. (measured in $ worth of imports) A) Canada B) China C)Mexico D)Japan E)Germany

3. Which country was the biggest trading partner for the U.S. in 2006. (in $ worth of US imports) A) Canada B) China C)Mexico D)Japan E)Germany

4. In order. A) Canada 303198 B) China 287 52 C)Mexico 197115 D)Japan 148 56 E)Germany 88 37 US Imports $billionUS Exports $billion

5. If Al is more skilled than Bob at all activities, then any trade between Al and Bob that is good for Bob must be bad for Al. A)True B)False

6. And on to our lecture.