Authors libby rittenberg 108
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Diaz Mora found that comparative advantage tended to correspond to
income levels. Countries in the northern part of the European Union tend
to have high per capita incomes and high levels of human capital and
technology—these countries gained by specializing in the production of
high-valued goods. Countries in the southern part of the Union also gained
by specialization—in the production of low-valued goods. This
specialization has increased the welfare of people throughout the Union.
Sources: Carmen Diaz Mora, “The Role of Comparative Advantage in Trade
Within Industries: A Panel Data Approach for the European
Union,” Weltwirtschaftliches Archiv 138:2 (2002), 291–316.
ANSWER TO TRY IT! PROBLEM
Your first production possibilities curve should resemble the one in
Panel (a). Starting at point A, an increase in jacket production requires
a move down and to the right along the curve, as shown by the arrow,
and thus a reduction in the production of CD players. Alternatively, if
there is economic growth, it shifts the production possibilities curve
outward, as in Panel (b). This shift allows an increase in production of
both goods, as suggested by the arrow.
Figure 2.17
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org
108
