Figure 13.1 Trade Expressed as a Percentage of Production, World and United States, 1965-2003

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Figure 13.1 Trade Expressed as a Percentage of
Production, World and United States, 1965-2003
2
Figure 13.2 Top Purchasers of Goods from the
United States and Suppliers of Goods to the
United States, 2005
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Figure 13.3 Portugals Production Possibilities
Frontier
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Figure 13.4 Englands Production Possibilities
Frontier
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Table 13.1 Production, Exchange, and Consumption
of Wine and Cloth
Production Wine Cloth
Portugal 200 0
England 0 400
Total 200 400
Exchange
Portugal sell 100 buy 100
England buy 100 sell 100
Consumption
Portugal 100 100
England 100 300
Total 200 400
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Table 13.2 Opportunity Cost and Comparative
Advantage
Country Opportunity Cost of 1 Unit of Cloth Opportunity Cost of 1 Unit of Wine
Portugal 2 units of wine ½ unit of cloth
England ½ unit of wine 2 units of cloth
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Figure 13.5 A Foreign Exchange Market
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Figure 13.6 A Supply Shift in a Foreign Exchange
Market
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Table 13.3 United States Balance of Payments
Account (2005, Billions of Dollars)
Balance of Payments       0
Balance on Current account     -792  
Inflows   1,750    
Payments for Exports of Goods 895      
Payments for Exports of Services 381      
Income Receipts 475      
Outflows   -2,541    
Payments for Imports of Goods -1,677      
Payments for Imports of Services -315      
Income Payments -463      
Net transfers -86      
         
Balance on Financial account     785  
Outflows (e.g., U.S. lending abroad, or FDI abroad) -427    
Inflows (e.g., U.S. borrowing from abroad, or FDI in the U.S.) 1,212    
         
Statistical discrepancy (and "capital account")1     6  

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Figure 13.7 U.S. Imports and Exports of Goods and
Services, 1950-2005
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Figure 13.8 Foreign Exchange Intervention