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April 13, 2021

Import and Export

APA (edition "APA 6"), Economics

1. What is the top product imported into your state? What is the top product exported by your state?
-Indiana is my state and please use the links below as a reference

IMPORT – https://www.census.gov/foreign-trade/statistics/state/data/imports/in.html
EXPORT – https://www.census.gov/foreign-trade/statistics/state/data/in.html

2. Using the important verbiage of comparative advantage and absolute advantage, why are these 25 products the ones that made the list?

3. Write a paragraph to summarize your findings and explain why the U.S. wants to import and export these products. Be sure to apply the concepts of opportunity costs, comparative advantage, and absolute advantage.

Please use 1 reference material. Thank you.

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