AP Macro Unit 5 Summary

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Per Unit Opportunity Cost ReviewPer Unit Opportunity Cost= Opportunity CostUnits GainedAssume it costs you $50 to produce 5 t-shirts. What isyour PER UNIT cost for each shirt?$10 per shirtNow, take money our of the equation. Instead ofproducing 5 shirts you could have made 10 hats.1. What is your PER UNIT OPPORTUNITY COST foreach shirt in terms of hats given up?1 shirt costs 2 hats2. What is your PER UNIT OPPORTUNITY COST foreach hat in terms of shirts given up?1 hat costs a half of a shirt 6
Per Unit Opportunity Cost ReviewRonald McDonald can produce 20 pizzas or 200 burgersPapa John can produce 100 pizzas or 200 burgers1. What is Ronald’s opportunity cost for one pizza interms of burgers given up? 1 pizza cost 10 burgers2. What is Ronald’s opportunity cost for one burger interms of pizza given up? 1 burger costs 1/10 pizza3. What is Papa John’s opportunity cost for one pizza interms of burgers given up? 1 pizza costs 2 burgers4. What is Papa John’s opportunity cost for one burgerin terms of pizza given up? 1 burger costs 1/2 pizzaRonald has a COMPARATIVE ADVANTGE in theproduction of burgersPapa John has a COMPARATIVE ADVANTAGE in theproduction of pizza7
Page 1 and 2: Unit 5: InternationalTrade1
Page 3 and 4: “Magic of Markets”Brown Bag Act
Page 5: Absolute and ComparativeAdvantage5
Page 10 and 11: Sugar (tons)Sugar (tons)S W0 301.5
Page 12 and 13: Sugar (tons)Sugar (tons)WheatSugarU
Page 14 and 15: Input Questions:IOU=Input: Other go
Page 16 and 17: PineapplesRadiosKenyaIndia30 10(1P
Page 18 and 19: Comparative Advantage PracticeCreat
Page 20 and 21: Closed vs. Open EconomiesA closed e
Page 22 and 23: Balance of TradeNet Exports (X N )
Page 24 and 25: Balance of Payments (BOP)Balance of
Page 26 and 27: Current AccountThe Current Account
Page 28 and 29: Current or Capital Account?Identify
Page 30: Practice1. U.S. income increases re
Page 33 and 34: Video: Down and Out Dollar
Page 35: The turnover in FOREX markets isalm
Page 38 and 39: What happens if you need more dolla
Page 40 and 41: S&D for the US DollarsPrice of USDo
Page 42 and 43: FOREX ShiftersLet’s use the examp
Page 44 and 45: 3. Changes in Relative Price Level(
Page 46: PracticeFor each of the following e

AP Macro Unit 5 Summary

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