Economists usually favor free trade
Problem: Economists usually favor free trade because without it, aggregate output suffers and international trade wars can take place and competition among nations is reduced. Please explain.
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I. The three General Economic Principles a.) All choice involve costs b.) People Respond to Incentives in Predictable Ways c.) The Consequences of Choices Lie in the Future.
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Economists usually favor free trade because without it, aggregate output suffers and international trade wars can take place and competition among nations is reduced. Please explain.
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Please include an analysis of the effect of such trade balance between the economies of China and the U.S., both individually and comparatively. Justify your analysis by using appropriate examples and references.
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