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Unformatted text preview: c b. global company however is exporting products to all over the world (even in a country where the economic situation is total l y 5. why nations trade? a. getting goods that can't be produced locally b. to get hard currencies (to add to the nation's wealth) by spending GDP surplus c. absolute advantage allows gain from trade (import goods are sold locally so that gdp can increase) d. comparative advantage allows gain from trade (one country is slightly more efficient that the other at producing particular pr o Sheet1 Page 2 creates trade deficit because export < import...
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This note was uploaded on 04/25/2010 for the course MANAGEMENT MGM 100 taught by Professor Appleyard during the Fall '10 term at University of Toronto.
- Fall '10