If a country allows trade and the domestic price of a good is higher than the world price, then
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2 marks, −1International EconomicsTheories of international tradeSpecialisation and the gains from tradeEasyabout 1 min
JNU SIS 2017 Question 37: Theories of international trade
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Theories of international trade has come up 151 times in 6 exams since 2006.
What this question tests
This question is on Specialisation and the gains from trade, part of Theories of international trade in International Economics.
How specialisation raises consumption possibilities, including complete and incomplete specialisation.
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