Suppose there is an economy, called Saxet, that produces two goods: consumer goods and investment goods. The Saxes economy was producing the combination of output “C”
Suppose there is an economy, called Saxet, that produces two goods: consumer goods and investment goods. The Saxes economy was producing the combination of output “C”. It entered into a trade relationship with a second economy which had the comparative advantage in the production of investment goods. If both economies pursue the gains from trade, […]
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