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QUESTION 9 Question 3b- 6 If the international terms of trade settle at a level that is between each country's opportunity costs: There is no basis for gainful trade for either country. Both countries gain from trade. Trade will lead to loses for each country. Only one country gains from trade.

QUESTION 9 Question 3b- 6 If the international terms of trade settle at a level that is between each country's opportunity costs: There is no basis for gainful trade for either country. Both countries gain from trade. Trade will lead to loses for each country. Only one country gains from trade.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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QUESTION 9 Question 3b-6 If the international terms of trade settle at a level that is between each country's opportunity costs: There is no basis for gainful trade for either country. Both countries gain from trade. Trade will lead to loses for each country. Only one country gains from trade.
Transcribed Image Text:QUESTION 9 Question 3b-6 If the international terms of trade settle at a level that is between each country's opportunity costs: There is no basis for gainful trade for either country. Both countries gain from trade. Trade will lead to loses for each country. Only one country gains from trade.
QUESTION 8 Question 3b- 5 Trade triangles of the partner and the home country in a two-country analysis are congruent because: Trading prices (Px/Py) are different for each country. Exports of the home country are imports of the partner country. Trading prices (Px/Py) are lower for each country. The general equilibrium condition is met by both countries.
Transcribed Image Text:QUESTION 8 Question 3b- 5 Trade triangles of the partner and the home country in a two-country analysis are congruent because: Trading prices (Px/Py) are different for each country. Exports of the home country are imports of the partner country. Trading prices (Px/Py) are lower for each country. The general equilibrium condition is met by both countries.
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