Chapter34: World Trade Equilibrium
Section: Chapter Questions
Problem 11E
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Question
Carefully define and explain the meaning of “equilibrium terms of trade”
Ans: The equilibrium terms of trade occurs at a price ratio where the desired quantity of exports of good X and desired quantity of imports of commodity of good by one nation equals the desired quantity of imports by another nation for.
I'm sure there's something wrong with the answer for the question. Could you please make it clear or change something in
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