MACRO ECON 6
MACRO ECON 6
6th Edition
ISBN: 9780357689820
Author: MCEACHERN
Publisher: CENGAGE L
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Chapter 17, Problem 3P
To determine

The shape of the production possibilities frontiers if the terms of trade were 1 unit of clothing to 2 units of food.

Introduction:

Terms of trade: The terms of trade are defined as the ratio of exports to its imports

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