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Microeconomics
, Fifth Edition
William Boyes, Arizona State University
Michael Melvin, Arizona State University
Chapter Review
Chapter 21: World Trade Equilibrium
1. What are the prevailing patterns of trade between countries? What goods are traded?
2. What determines the goods a nation will export?
3. How are the equilibrium price and the quantity of goods traded determined?
4. What are the sources of comparative advantage?
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