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Title: If a country is not engaged in trade at all with its neighbours, and then begins to trade, it will Post by: jayboskeet on Oct 16, 2022 If a country is not engaged in trade at all with its neighbours, and then begins to trade, it will
▸ be consuming inside its production possibilities boundary. ▸ expect a decrease in the average standard of living, but will see increased profits for firms in the export business. ▸ import those goods which are acquired more cheaply through trade than through domestic production. ▸ experience an increase in its average standard of living only if it begins with an absolute advantage in the production of all goods. ▸ experience increases in employment in all industries. Title: If a country is not engaged in trade at all with its neighbours, and then begins to trade, it will Post by: thomas1993 on Oct 16, 2022 Content hidden
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