Examples and Applications of International Trade
What are the Examples and Applications of International Trade?
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1. Unemployment and Productive Inefficiency:
a. Depression
b. Discrimination in the labor market.
2. Tradeoffs and Opportunity Costs
a. Logging and mining versus wilderness.
b. Allocation of tax resources.
3. Shifts of Production Possibilities Curve
a. Technological advances in the U.S.
b. The effects of war.
After the Spanish found the new world, they promptly began to plunder this. They imported huge amount of gold and silver to Spain. It inflow of bullion caused a rapid increase in inflation, that would have grave consequences for Spain. It is quick inflation made this
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Illustrate other than price many factors determine the outcome?
Describe redistributive effects of inflation?
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Illustrate the advantage and disadvantage of Sole proprietorship?
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