Macro 2.24.11

Macro 2.24.11 - -Reasons Choice A. Produce everything you...

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Macroeconomics 2/24/11 Pegs Two Options - produce everything - specialize and trade Comparative advantage - vs. absolute advantage - law of comparative advantage Sources of Gains from Trade Trade Barriers - Natural vs Unnatural
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Unformatted text preview: -Reasons Choice A. Produce everything you come Choice B. Produce only some (or even none) of what you consume People choose Choice B.-Trade -Specialize in production...
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