Trade models claim that the condition of trade is generally always better than the condition of no trade for both trading parties. Why would governments in democratic countries apply economic policies that might hurt benefits from trade? What policies can governments apply in order to support those losing from trade without hurting the trade? Discuss your answers using drawing conclusions from Specific Factors model.
Trade models claim that the condition of trade is generally always better than the condition of no trade for both trading parties. Why would governments in democratic countries apply economic policies that might hurt benefits from trade? What policies can governments apply in order to support those losing from trade without hurting the trade? Discuss your answers using drawing conclusions from Specific Factors model.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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:Trade models claim that the condition of trade is generally always better than the condition of no trade for both trading parties. Why would governments in democratic countries apply economic policies that might hurt benefits from trade? What policies can governments apply in order to support those losing from trade without hurting the trade? Discuss your answers using drawing conclusions from Specific Factors model.
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